00:00It's Benzinga bringing Wall Street to Main Street.
00:02Gold prices tumbled more than 8% on Friday, breaking below $5,000 an ounce as the U.S.
00:08dollar strengthened on expectations around the appointment of a new Federal Reserve chair,
00:13according to Reuters. Spot gold fell 5% to $5,124.37 an ounce after sliding to $4,957.54
00:24earlier in the session, while February gold futures dropped 3.9% to $5,118.40.
00:32The medal hit a record high of $5,594.82 on Thursday and remains on track for a monthly
00:39gain of more than 18%, its largest since 1982. Analysts cited expectations that Kevin Warsh
00:45will be named FedShare as pressure on prices. Silver, Platinum, and Palladium also posted
00:51sharp declines on profit-taking. For all things money, visit Benzinga.com.
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