"The US President is also at loggerheads with the central bank after Fed Chair Jerome Powell confirmed that he and the central bank are now under investigation by the Department of Justice over the soaring cost of the central bank's renovation. Chair Powell describes the investigation as politically motivated, pointing to Trump's repeated threats to remove him for not lowering interest rates faster."
"As protests in Iran enter their third week, US President Donald Trump weighs all options, including cyber-attacks and military action, according to a recent Associated Press article. "The military is looking at it, and we're looking at some very strong options," Trump tells reporters on Air Force One on Sunday night. Asked about Iran's threats of retaliation, he says: "If they do that, we will hit them at levels that they've never been hit before.""
"Gold and silver made fresh ATHs today - gold at $4,601/oz, silver at $84.60/oz - and look set to push higher over the coming weeks. Both metals close in on important 'big figures' at $5,000/oz and $100/oz, respectively. These levels act as important reference points for investors and will likely spark a new round of volatility. For longer-term investors, any sell-off from these levels provides a renewed opportunity to enter the market."
Gold and silver reached fresh all-time highs as investors sought safe-haven assets amid rising geopolitical risk and US policy uncertainty. Large protests in Iran and US threats of cyber and military responses increased risk perceptions. Political conflict between the US President and the Federal Reserve, including a Department of Justice inquiry and public pressure on Fed Chair Jerome Powell, raised uncertainty about monetary policy. Market pricing shows a low probability of an imminent Fed rate cut. The US dollar weakened while demand for precious metals increased, pushing gold toward $5,000/oz and silver toward $100/oz and creating potential volatility and buying opportunities.
Read at London Business News | Londonlovesbusiness.com
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