International gold and silver prices continued their sharp decline on January 30, marking their largest single-day drops in decades, influenced by profit-taking and short-term futures traders liquidating long positions. Market analysts believe that US President Trump's nomination of former Federal Reserve Governor Kevin Warsh as the next Fed chairman on January 30 exacerbated the plunge in precious metal prices. Warsh has publicly criticized the side effects of quantitative easing and believes the Fed needs closer policy coordination with the US Treasury. Analysts at Britannia Global Markets, a London-based asset brokerage firm, stated that the correction was not unexpected given the speed and magnitude of the precious metals rally in January. Analysts at Metals Focus, a UK-based research firm, believe the recent surge in precious metals has been irrational, but given the ongoing geopolitical risks and economic uncertainties facing investors, the market sell-off may be unsustainable. (CCTV News)