Gold, silver prices plummet after Kevin Warsh becomes Fed Chair nominee, may signal bullish tech stocks; Tom Lee sees metals drop as positive market reset. Prof Jeremy Siegel lauds Warsh as 'responsible choice.' Dollar stability shifts focus away from precious metals.
Gold and silver prices have sharply declined following President Trump's nomination of Kevin Warsh as Fed Chair. Tom Lee from Fundstrat noted that the previous rally was diverting risk from stocks, and Warsh's nomination may release capital into risk assets. The stability of the U.S. Dollar is now a focus, with experts like Professor Jeremy Siegel praising Warsh. This shift is expected to benefit the tech sector as the fear of currency debasement decreases, prompting a rotation from precious metals to other investments.
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