None
EN
Gold Retreats as Reports on Trump’s Fed Nominee Boost Dollar
['Yihui Xie', 'Fri January At Am Gmt', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Gold fell, following its first drop in nearly two weeks, as the US dollar strengthened after a report the Trump administration is preparing to nominate Kevin Warsh for Federal Reserve chair.
A gauge of the dollar rose as much as 0.5%, making precious metals more expensive for most buyers.
Most Read from BloombergPresident Donald Trump is expected to name Warsh as his nomination for Fed chair, Bloomberg News reported.
Gold fell 3.1% to $5,208.93 an ounce as of 12:05 p.m. in Singapore.
The Bloomberg Dollar Spot Index rose 0.3%, but is still down 1% for the week.