Witnessing History Gold suffered its biggest single-day drop since the early 1980s, while silver recorded its largest single-day decline ever. The immediate trigger was Trump's nomination of Kevin Warsh as Federal Reserve Chairman. The market had initially worried that Trump would appoint a more dovish candidate (prone to loose monetary policy), leading to further dollar depreciation and rising inflation, thus boosting demand for gold and silver as safe-haven assets. However, Warsh was seen as an "inflation fighter," and his nomination was interpreted as upholding the Fed's independence and reducing panic over currency depreciation, far exceeding market expectations. This led to a sell-off and subsequent spiral of margin calls, resulting in the largest single-day drop. Other reasons included: a strong rebound in the dollar index, profit-taking, market overcrowding, and weakened safe-haven demand. However, many analysts believe this is a reshuffling within an upward trend, with fundamentals (such as continued geopolitical risks, inflationary pressures, and a shortage of industrial demand for silver) still supporting precious metals. In fact, the last wave of retail investors who trusted analysts have been trapped for 40 years. DYOR #Gold #Silver #XAU #XAG