Severe volatility in global precious metals markets;
Gold and silver fell sharply + prices
Gold experienced its steepest daily decline since 1983 in global market trading on Friday after Trump announced her pick to head the Federal Reserve, and silver fell almost 30%, experiencing its worst day.
According to the Kedeh Economy, the price of an ounce of gold for immediate delivery fell by 9.5 percent to $4,883.62 cents, while it reached a record of $5,594.82 on Thursday. The price of an ounce of gold in the US futures market for delivery in February fell by 11.4 percent to close at $4,745.10 cents.
The widespread selling, described by analysts as profit-taking, also pressured other precious metals.
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