Gold plunged as a report the Trump administration is preparing to nominate Kevin Warsh for Federal Reserve chair boosted the dollar, in a broad metals selloff.

Gold and silver prices plunged on Friday, following weeks of gains as investors poured money into safe havens.

Investors have been parking their money in safe-haven assets for months. Could a stronger dollar and changes at the Fed reverse that trend?

By Ishaan Arora Jan 30 (Reuters) - Gold slid more than 4% on Friday on rumours the Federal Reserve could get a more hawkish chair, but was still on track for its strongest monthly gain since 1980 as investors flocked to the safe haven amid lingering geopolitical and economic strains.

Gold rose as weakening confidence in the dollar and concerns ‍around the independence of ‍the U.S. Federal Reserve boosted ‍demand for the safe-haven metal.

When is next Federal Reserve policy meeting and why is it crucial for US stock market, gold and silver price rise? The January FOMC meeting may shape interest rate outlook, market sentiment, gold prices,

The Federal Reserve held interest rates steady on Wednesday, a move markets largely expected. Bitcoin stayed relatively firm even as the US dollar weakened, but traders are still asking why crypto is down despite a supportive macro setup.

Bitcoin traded lower alongside most major tokens as investors favored gold and silver ahead of the Federal Reserve decision and a heavy week of Magnificent Seven earnings.