Witnessing history, gold experienced its largest single-day decline since the early 1980s, while silver saw its biggest single-day drop ever. The immediate trigger was: Trump's nomination of Kevin Warsh as Federal Reserve Chair. The market was initially worried that Trump would appoint a more dovish (loose monetary policy) candidate, leading to further dollar depreciation and rising inflation, which in turn boosted demand for gold and silver as safe-haven assets. However, Warsh was seen as an "inflation fighter," and his nomination was interpreted as a move to maintain the independence of the Federal Reserve, reducing fears of currency devaluation. This far exceeded market expectations, causing investors to sell off and reduce their positions, leading to a spiral of forced liquidations and creating the largest single-day decline. Other reasons included: a strong rebound in the US dollar index, profit-taking, excessive market positioning, and weakening safe-haven demand. However, many analysts believe this is a reshuffling within an upward trend, as the fundamentals (such as ongoing geopolitical risks, inflation pressures, and shortages in industrial demand for silver) still support precious metals. In fact, the previous batch of retail investors trusting analysts have been trapped for 40 years. DYOR#黄金 #Silver #XAU #XAG