Kevin Warsh's Fed Chair Speculation Bursts Gold, Silver Bubble; Prices Plummet

• Speculation about Kevin Warsh as the next US Federal Reserve chairman caused a massive sell-off in gold and silver markets.
• On January 30, 2026, MCX gold prices dropped by approximately 13,000 rupees per 10 grams, and silver fell by about 60,000 rupees per kilogram.
• Silver prices on MCX hit a lower circuit after a 15% drop, halting trading; gold also saw a 6% fall and hit its lower circuit.
• Warsh is considered a 'hawkish' policymaker, favoring tough stances against inflation, which strengthens the dollar and negatively impacts gold and silver.
• Kevin Warsh, a former Fed Governor and M&A executive, played a key role during the 2008 financial crisis and is currently a Hoover Fellow at Stanford University.

Why It Matters: Kevin Warsh's potential Fed Chair nomination triggered a sharp decline in gold and silver prices globally.