Gold and silver prices plunged Friday as the U.S. dollar surged and investors took profits, following news of U.S. President Donald Trump's nomination of Kevin Warsh as the next Federal Reserve chair.
At market close, the most-active gold futures contract on the New York Mercantile Exchange (NYMEX) settled at 4,745.10 U.S. dollars per ounce, down 11.39 percent from the previous trading day. Silver futures also suffered significant losses, with the benchmark contract dropping 31.37 percent to 78.531 U.S. dollars per ounce.
Trump announced on Friday that he is nominating Kevin Warsh, a former Federal Reserve governor, to be the next chair of the central bank.
Gold, silver prices drop sharply
Gold, silver prices drop sharply
The Red Cross Society of China will provide 200,000 U.S. dollars in emergency humanitarian assistance to the Iranian Red Crescent Society, Foreign Ministry spokesman Guo Jiakun said at a press briefing in Beijing on Friday
Guo made the statement after a girls' elementary school in southern Iran was struck during a U.S.-Israeli military operation, killing more than 160 people, most of them are students.
"China condemns all indiscriminate attacks against civilians and non-military targets. Attacks on schools and harm to children are an even more serious violation of international humanitarian law and broke the bottom line of human morality and conscience. We express deep condolences regarding the deaths of students in the attack on the Shajareh Tayyebeh elementary school in Minab, Hormozgan Province and extend our sincere sympathy to the families of the deceased students," said Guo.
"The Red Cross Society of China has decided to provide the Iranian Red Crescent Society with 200,000 U.S. dollars in emergency humanitarian assistance, to be used specifically to offer condolences and bereavement support to the parents of the deceased students. China stands ready to continue, in the spirit of humanitarianism, to provide necessary assistance to the affected Iranian people and support them in overcoming the difficulties," he continued.
China Red Cross to provide 200,000 USD for Iranian victims of elementary school attack: Foreign Ministry
