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What Warsh as Fed Chair Means for the Gold Price

Senate Banking Committee hearing room during the Kevin Warsh Federal Reserve chair confirmation hearing, April 2026. Senators seated at the curved wooden dais, with press photographers and attendees visible in the foreground

The DOJ dropped its Powell probe on April 24, clearing the path for Kevin Warsh to become the next Fed chair. Gold went up — the opposite of what most investors expected. Here’s why that price action makes sense, what the $39 trillion debt overhang means for gold under Warsh, and what Powell’s final FOMC press conference on April 29 could signal for precious metals investors.

The Real Reason Gold Is Down During an Oil War 

American Gold Eagle coin resting on a printed chart showing a declining gold price during the Iran War

Gold is down 10% since the Iran War began — while oil is up nearly 60%. If gold is an inflation hedge, why is it falling during an inflation shock? The answer comes down to one distinction most investors miss: paper gold and physical gold are not the same thing, and they don’t respond to the same forces.

What the Warsh Hearing Means for Gold Prices 

Empty United States Senate committee hearing room with name placards and American flags

Kevin Warsh’s confirmation hearing is the most consequential signal for gold prices in months. Three scenarios, three outcomes — and one structural force that shapes gold’s floor no matter which way the vote goes.

Oil Crashed 11%. Gold Went Up. That Tells You Everything.

Oil Crashed 11%. Gold Went Up. That Tells You Everything.

Oil crashed 11% on Friday when Iran reopened the Strait of Hormuz. Gold went up. That rare divergence — oil down, gold up, same catalyst — signals that gold’s rally is driven by monetary forces, not geopolitical ones. The war premium left oil. The monetary premium stayed in gold. Here is what that means for precious metals investors watching the Fed’s next move.

Is the Petrodollar Ending? What the Iran War Means for Gold

Is the Petrodollar Ending? What the Iran War Means for Gold

Deutsche Bank calls the Iran war a “perfect storm for the petrodollar.” Not everyone agrees — but the dollar’s reserve share has already fallen from 71% to 57% since 1999. Here’s what five key market developments mean for gold and silver investors today.

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