Commodities sell-off continues in markets following Warsh Fed pick

Big declines in gold and silver prices have pushed commodity prices lower since President Donald Trump announced his nomination of Kevin Warsh to lead the Federal Reserve.

After months of enormous gains in gold and silver prices, which are considered risk assets, sellers began offloading in droves on Friday, a sell-off that has continued to some extent on Monday. The moves come as markets try to interpret what Warsh as Fed chairman might mean.

DOLLAR FALLS TO MULTI-MONTH LOWS ON UNCERTAINTY OVER TARIFFS, THE FED, AND SHUTDOWN THREAT

Gold prices slipped more than 1% on Monday to about $4,700 per ounce but collapsed more than 10% on Friday. Silver was about even on Monday after a historic plunge on Friday, where at one point, it was down 36%