Los Angeles CA, October 26 (Tangible Investments) — by James O’Dell — Precious metals prices were mixed on Thursday as President Trump’s choice for Fed Chair may be narrowing. Gold is down 0.23 percent to $1,274.30 an ounce after gaining $0.90 on Wednesday to close at $1,277.20 an ounce.

Silver is down 0.21 percent to $16.89 an ounce after adding $0.02 on Wednesday to close at $16.93 an ounce. The Gold/Silver ratio fell to 75.44 as Silver outperformed Gold. Platinum is down 0.22 percent to $920.00 an ounce. Palladium is up 0.21 percent to $953.00 an ounce.

Gold dipped modestly in early trading Thursday as the dollar gained against the euro after the European Central Bank (ECB) announced that it would reduce its bond buying. In Spain, senators are giving PM Rajoy the powers to seize control of Catalonia under Article 155 of the Constitution. It’s being called the biggest constitutional crisis in the country since the attempted coup in 1981.

In the U.S., markets remain cautious amid the uncertainty surrounding the possible new leadership change at the Fed. Reports circulating today are saying that Janet Yellen and Kevin Warsh are out of the running for Fed chair.

Narrowing Field Of Contenders

Whether the field has narrowed to just John Taylor, and Jerome Powell, remains unclear. President Trump identified three candidates he may choose to run the Fed and that included Yellen.

“Well as you know, I’ve been seeing a number of people, and most people are saying it’s down to two — Mr. Taylor, Mr. Powell. I also met with Janet Yellen who I like a lot, I really like her a lot. So I have three people I’m looking at, and there are a couple of others,” said Trump. President Trump is expected to announce his choice for Fed Chief before the start of his Asia trip on Nov. 3.

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