The US president's attacks on Fed Chair Jay Powell are intensifying. And the dollar is weakening accordingly. The President of the United States is not well versed in conventional forms of politeness. We also know that he prefers a loose monetary policy. Don't be confused by the smokescreens put up by his economic advisor Kevin Hassett: Of course, this preference is neither new nor unique. What is new and unique, however, is that the US President really might fire Chair Powell, unlike during his first term in office. Hassett has confirmed that the White House is considering this,...
Gold price (XAU/USD) shows no signs of fatigue and extends its rally higher yet again, hitting another record high at $3,500 in early Asian trading on Tuesday. However, price action is cooling off a bit, and Gold dips back to around $3,460 at the time of writing due to some profit taking at the psychological level. Several markets across the globe are returning to normal trading regimes after the holiday-infused Easter price action, with Good Friday and Easter Monday seeing reduced trading volumes due to bank holidays. This week's rally is being fueled by mounting uncertainty and pressure...
Gold prices briefly broke above $3,500 per ounce to an all-time high on Tuesday, after U.S. President Donald Trump criticised Federal Reserve Chair Jerome Powell, rattling investors and increasing demand for the safe-haven asset. Spot gold was up 1.5% at $3,474.41 an ounce by 0743 GMT, after earlier rising as far as $3,500.05. U.S. gold futures gained 1.8% to $3,485.10. "The latest leg of the rally was triggered by President Donald Trump's public attack on Federal Reserve Chairman Jerome Powell," said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany. "As political...
Silver prices slipped nearly 1% to around $32.30 per ounce on Tuesday, as investors locked in profits following a strong rally in precious metals. The pullback came after recent gains driven by safe-haven demand amid rising fears over the global economic impact of escalating trade tensions. Market sentiment was weighed down by stalled US-China trade negotiations, with Beijing accusing Washington of abusing tariffs and cautioning other countries against one-sided deals. Meanwhile, President Donald Trump's calls for immediate interest rate cuts—and threats to remove Federal Reserve Chair...