Bloomberg Television
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What happened to the Gold and Silver rally?
Posted
February 2, 2026
Views
17,936
Likes
333
Comments
50
Engagement
2.14%
February 2, 2026
17,936
333
50
2.14%
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1:21Now PlayingGold and silver's record-breaking rally has come to an abrupt halt — for now
Skylar Montgomery Koning explains what's behind the slump in precious metals
Spot gold fell by about 4%, after tumbling 10% earlier, extending its biggest slump in more than a decade on Friday, while silver dipped by more than 7%.
The trigger for Friday’s dramatic selloff was the news that US President Donald Trump would nominate Kevin Warsh to lead the Fed, which sent the dollar higher and undercut sentiment among investors.
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