Gold and silver prices cratered Friday after President Trump named Kevin Warsh to lead the Federal Reserve, following months of gains driven in no small part by fears over the central bank's independence.
The big picture: The selloff follows a year when the precious metals soared as if they were meme stocks or the hot new tech darling. Today's plunge was seen by many market analysts as an inevitable move for an asset class primed to retreat, with the Fed news merely a catalyst.
