Gold, Silver Prices Tumble as Investors Reassured by Trump's Fed Pick

• Gold and silver prices fell sharply after Donald Trump nominated Kevin Warsh as the new Federal Reserve chair.
• Precious metals, considered safe-haven investments, had surged earlier due to investor concerns over Trump's policies.
• Gold dropped over eight percent, falling below $5,000 an ounce from a record high of $5,595.47.
• Silver plummeted 20 percent to $90 an ounce after reaching an all-time peak above $120.
• Markets experienced a volatile week amidst a weaker dollar, Trump's threats against Iran, tariff concerns, and a potential US government shutdown.

Why It Matters: Investors found reassurance in Trump's Fed pick, leading to a significant drop in gold and silver prices.