Gold and silver erase about $7T after Warsh nomination — Bitcoin falls 7% but holds

A historic liquidation over the past 48 hours wiped roughly $7 trillion from gold and silver markets, while Bitcoin fell about 7% but remained comparatively resilient near $82,000, market data and analysts reported. Blockchain analytics firm Santiment highlighted the rarity of the move, showing gold down more than 8% and silver off over 25%.

Gold’s price fell from around $5,600 an ounce to roughly $4,700, and silver slid from about $121 to $77. Bitcoin’s modest decline stood in contrast to the metals rout. Market observers linked the metals sell-off to President Donald Trump’s nomination of Kevin Warsh to replace Jerome Powell as Federal Reserve chair.

Warsh is widely viewed as an inflation hawk committed to defending the U.S. dollar, a stance that many said upends the depreciation narrative that had driven recent metals inflows. Analysts and traders said a pivot toward tighter policy triggered violent unwinding of leveraged positions.

Idaho Armored Vaults CEO Bob Coleman described the move as “a symptom of a lot of hot money chasing price recently which now are being stopped out, leverage being unwound, and profit taking.” Ark Invest founder Cathie Wood warned the gold market looked overheated and compared a potential dollar upturn to past long-term corrections.

gold and silver liquidation, precious metals rout, roughly $7 trillion loss, bitcoin near $82,000, bitcoin falls 7%, warsh nomination, inflation hawk kevin warsh, tighter monetary policy, leverage being unwound, santiment data, bob coleman, cathie wood ark invest, debasement trade