# UBP Weekly View - Precious metals challenged

> The Fed held rates at 3.50–3.75% with two dissents favoring a cut, and Trump nominated Kevin Warsh as next chair. Gold and silver fell sharply in a deleveraging move that began in Asia after the nomination, while the dollar edged higher.

- Date: 2026-02-01 · published 2026-02-01T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/20510-ubp-weekly-view-precious-metals-challenged
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The Warsh nomination shifted rate expectations and prompted precious-metal liquidation, a pattern that can spill into broader commodity pricing and dollar-sensitive markets.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-03-01 | [COMMENTARY: Specter of Warsh Fed sparks precious metals 'debasement' crash](https://feedsoft.ai/events/20507-commentary-specter-of-warsh-fed-sparks-precious-metals-debasement-crash.md) | +1.4% | +2.6% |
| DXY | 2026-05-12 | [This is what’s really driving the commodity complex and the precious metals rally – CME Group \| Kitco News](https://feedsoft.ai/events/19170-this-is-what-s-really-driving-the-commodity-complex-and-the-precious-metals.md) | +0.8% | +1.6% |
| DXY | 2026-09-21 | [FX Weekly Overview (Brazil Issue)](https://feedsoft.ai/events/17669-fx-weekly-overview-brazil-issue.md) | +0.7% | +1.5% |
| DXY | 2024-05-27 | [FX Weekly Overview (Brazil Issue)](https://feedsoft.ai/events/30478-fx-weekly-overview-brazil-issue.md) | +0.6% | +1.9% |
| DXY | 2021-01-21 | [Global Daily – US rates & dollar changes + ECB preview \| ABN AMRO](https://feedsoft.ai/events/49070-global-daily-us-rates-and-dollar-changes-ecb-preview-abn-amro.md) | +0.6% | +0.6% |

## Sources

- ubp.com: https://www.ubp.com/en/news-insights/newsroom/ubp-weekly-view-precious-metals-challenged

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.