Gold and silver extended ​falls on Monday after CME Group raised margin requirements following a sharp selloff in precious metals last ‌week on U.S. President Donald Trump's nomination of Kevin Warsh to be the next Federal Reserve chair.

US stocks ended down after Trump said he's choosing Kevin Warsh to be the next Fed chair. Gold and sliver posted their largest 1-day drop since 1980.

President Donald Trump’s pick of Kevin Warsh for the next chair of the Federal Reserve triggered a rebound in the dollar and a subsequent plunge in precious metals.

Silver’s plunge on Friday was the metal’s worst daily drop since 1980 and was described by one strategist as “every man and his dog rushing for the exit.” President Donald Trump’s nomination of Kevin Warsh as the next Federal Reserve chair fueled a recovery in the U.

Financial markets churned on Friday as investors tried to figure out what President Donald Trump’s new nominee to lead the Federal Reserve will mean for interest rates. U.S. stocks fell, with the S&P 500 down 0.

Relief that President Donald Trump said he’d tap Kevin Warsh to head the Federal Reserve, rather than someone seen as more willing to ignore inflation and slash interest rates, sent the dollar and short-dated Treasuries rallying.

Gold, silver and copper suffered from a selloff on Friday, as the dollar rose on expectations that Kevin Warsh will be the next Federal Reserve chair.