Gold and other metals prices plunged on Friday, as the nomination of Kevin Warsh as Federal Reserve chair punctured a blistering rally that has also sent silver, copper and platinum to record highs this week.
The yellow metal, which had soared to nearly $5,600 on Thursday, plummeted as much as 11 per cent on Friday to around $4,800 per troy ounce, continuing a rollercoaster ride that has propelled gold to fresh records as investors seek haven assets amid global turmoil and inflation fears.
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