Although Warsh was previously hawkish on interest rates, echoing Powell's concerns that premature cuts could stoke inflation, he has recently shifted tone, saying Trump was "right to be frustrated" by the slow pace of rate cuts.© Google screenshot
While there is still uncertainty over how Warsh would steer policy - and with his nomination pending Senate confirmation - analysts say the pick stripped out the "inflation panic" premium from the precious-metals rally, as markets took it as a signal the Fed would remain independent and prioritize price stability over political pressure.
Analysts also said the announcement triggered a long-overdue correction, with months of uninterrupted gains leaving both metals technically overbought and elevated prices offering traders an attractive exit, amplifying selling once sentiment turned.
Despite the sharp pullback, many forecasts for safe-haven assets remain bullish, with analysts saying the core drivers of the 2025 rally - geopolitical tensions, persistent inflation risks, trade frictions tied to Trump's tariff policies, and the expanding US debt burden - remain intact.
Analysts at JPMorgan and Goldman Sachs say central banks may view the current correction as an opportunity to further increase bullion reserves at lower prices.
An official in Fulton County, Georgia, announced the county will file a lawsuit Monday over the FBI's search and seizure of 2020 election records.
Commissioner Marvin Arrington Jr. said the lawsuit will "challenge the legality of the warrant and the seizure of sensitive election records, and force the government to return the ballots taken."
Arrington said that the county's attorneys are expected to file a lawsuit in federal court in the Northern District of Georgia to fight the action of Trump's Justice Department and the FBI.
The FBI served a warrant last Wednesday at the Fulton County election office, near Atlanta, Georgia, taking 700 boxes of election materials as it probes alleged voter fraud in the 2020 presidential election.
"I've asked the county attorney to take any and all steps available to fight this criminal search warrant. The search warrant, I believe, is not proper, but I think that there are ways that we can limit it. We want to ask for forensic accounting, we want the documents to stay in the State of Georgia under seal, and we want to do whatever we can to protect voter information."
Comment: The official figures for gold reserves which in many cases are dubious, can be seen below in this graph.
It is a fact that some Central banks have been big buyers of gold in the last few years with no letting up. The same goes for some hedgefunds, private investment companies and a number of cryptocurrencies.