Gold Pulls Back as News of Trump’s Fed Chair Nominee Boosts Dollar
Reports about a likely Trump nominee to head the Federal Reserve boosted the dollar and caused the price of gold to retreat for the first time in nearly a fortnight. Media reports indicated that Trump would name Kevin Warsh as the Fed chair to replace Jerome Powell whose term is coming to an end in a few months. The retreat in the price of bullion once this news broke continues the wild price swings that have characterized the closing days of the week after gold climbed sharply to reach record price levels. According to Bloomberg News, Trump is going to…
