Gold, Silver Prices Crash: Kevin Warsh's Fed Chair Prospect Triggers Market Panic

• Gold and silver prices plummeted globally after reports of Kevin Warsh being a frontrunner for the US Federal Reserve chairmanship.
• On January 30, 2026, MCX saw gold drop by Rs 13,000/10 grams and silver by Rs 60,000/kg, hitting lower circuits.
• Warsh is perceived as a 'hawkish' policymaker, favoring tough stances against inflation, which strengthens the dollar and negatively impacts bullion.
• His potential nomination led to a stronger dollar, triggering massive profit-taking and panic selling in the commodity market.
• Despite the crash, experts suggest it might not be a complete trend reversal, with global uncertainties potentially bringing back interest in gold and silver.

Why It Matters: Kevin Warsh's potential Fed Chair nomination, seen as hawkish, caused a sharp gold and silver price crash.