Business · 2 February 2026
Gold drops 8 percent, FTSE 100 hits record 10,341 points
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Gold prices plummeted 8 percent to $4,465 an ounce Monday, retreating from a $5,600 record. Silver crashed 7 percent to $79.60 following a massive 30 percent Friday slump. This metals meltdown, triggered by Donald Trump nominating Kevin Warsh as Federal Reserve chair, prompted investors to dump safe-haven assets. Conversely, the FTSE 100 soared, breaching the 10,300 mark for the first time to close at a record 10,341 points.
Reported by Guardian · How we write briefs