Gold goes cold as Fed takes a Warsh

NAB Morning Call · Feb 1, 2026 · 15m

Monday 2nd February 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABToday’s episode digs into the market whiplash triggered by President Trump’s nomination of Kevin Warsh as the next Fed Chair — a move that nudged the US dollar higher, knocked the Aussie lower, and sent precious metals into a full‑blown plunge, even as equities and bonds delivered a more mixed, almost reluctant response. We unpack whether the gold and silver surge was really about Fed independence, revisit Warsh’s crisis‑era credentials and his scepticism of QE, and explore what…