Lates News

Seth R Freeman, Senior Managing Director of GlassRatner Consulting & Capital Group, pointed out that one of the primary tasks for the newly nominated Federal Reserve Chairman Powell will be to rebuild global market confidence. This is especially important against the backdrop of the tense relationship between Trump and Powell over the past few months. Freeman also stated that Powell is the best candidate for the position given his long-term experience in government. But the best news is that we no longer have to deal with the uncertainty and market disturbances caused by Trump constantly pressuring the Fed chairman, which is good for everyone. Additionally, he mentioned that the significant drop in gold prices and even more intense drop in silver prices indicate that the market will see a stronger dollar and a different environment, especially for silver. Given this nomination, it would not be surprising if metal prices do not rebound significantly. And given Powell's hawkish tendencies, traders heavily invested in precious metals may face losses, especially those who have not hedged or taken short positions. It is possible that some traders may find themselves in serious trouble next Monday, at least those who are not holding neutral positions or shorting precious metals.