- Gold and silver prices declined after Trump's announcement of Kevin Warsh as Fed Chair successor
- Silver dropped up to 36% from its peak and fell about 8% on Sunday
- Speculative trading and profit booking contributed to the recent silver price fall
After an unprecedented rally, gold and silver prices have witnessed a bit of a reality check in the past few days, especially following Donald Trump's announcement of Kevin Warsh becoming the designated successfor US Federal Reserve chairman Jerome Powell.
Silver, in particular, has fallen up to 36% from its peak and is down about 8% on Sunday.
Here, NDTV Profit will take you through some of the key triggers in the silver trade, which have been driving the drawdown in recent days.
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The key trigger? Trump's announcement of Kevin Warsh as the designated successor to US Federal Reserve Chairman Jerome Powell.
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Why gold and silver are reacting to Warsh's prospects of becoming the next US Fed Chair.
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And here's how rate cuts could put pressure on gold and silver.
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More key reasons for the silver fall - speculative trading and profit booking.
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The drawdown reverses an unprecedented rally.
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And now, for the summary.
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