Gold falls over 2%

Gold prices fell more than 2% on Friday morning, weighed down by a combination of factors, including expectations for the announcement of a new Federal Reserve chairman, Report informs referring to trading data.

The price of April gold futures on the New York Comex exchange fell $117.40 from the previous close, or 2.19%, to $5,237.40 per troy ounce.

March silver futures fell 2.96% to $111.045 per ounce.

Investors are monitoring news regarding US monetary policy. US President Donald Trump announced that he will announce the nomination of a new Federal Reserve chairman on Friday morning local time. He has previously repeatedly criticized current Fed Chairman Jerome Powell for his slow pace of interest rate cuts.