Joshua Mahony, Chief Market Analyst at Scope Markets discussed the decline in gold and silver prices despite their reputation as safe havens. He attributes this to the nomination of Jerome Powell's successor at the Federal Reserve, which has weakened the narrative of de-dollarization and a loss of confidence in the US dollar. Mahoney also discusses the potential effect of a more hawkish Federal Reserve chair on commodity prices, and gives a prediction for future gold and silver prices.
