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Explore US dollar surges and gold, silver prices plunge as Trump reveals Fed Reserve nominee with 146,819 views, 205 likes, and 0 comments. Experience the impact of this video content that has captured audience attention.

CommSec’s Ryan Felsman explains gold and silver prices plummeted after US President Donald Trump nominated Kevin Walsh to lead the Federal Reserve. “We did see gold prices plunge 11.4 per cent on Friday to $US4,745.10 an ounce – that was the biggest decline since 1983. Silver prices were down by 31.4 per cent, and that was the biggest fall since 1980,” Mr Felsman told Sky News Australia. “The reason for that was we saw the US President, Donald Trump, nominate Kevin Walsh as the next US Federal Reserve Chair, and on the back of that, we saw a big lift in the United States dollar … that rose by the most since May last year, that pressured commodity prices.” Presented by CommSec.

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