Company Interview / the open: Precious metals plummet 🥈 ASX to slip

The local market is set to open sharply lower to begin the week with ASX futures pointing lower by 0.6%. 

On Wall Street, US President Donald Trump's nomination of Kevin Warsh to become the new chair of the Federal Reserve caused precious metal prices to plummet and the overall equities market to fall. Apple wrapped up the week with a forecast of higher-than-expected revenue growth of up to 16% for the March quarter. 

Gold registered its biggest daily loss since 1983 on Friday, while silver registered its largest fall in history, down 27% to be at $84 an ounce. Oil prices are steady to be near six-month highs supported by tensions between the US and Iran.

The US dollar index rose around 1% following President Trump's Fed nomination. Meanwhile, the Australian dollar has fallen back below 70 US cents to 69.5.