Global gold prices have surpassed the $4600 per ounce mark for the first time in history. This surge is driven by pressure on the US Federal Reserve and the escalating situation in the Middle East.
On Monday, global gold prices for the first time in history surpassed the psychological mark of $4,600 per ounce. The rapid increase in the value of precious metals was provoked by unprecedented political pressure on the US Federal Reserve and the escalation of the situation in the Middle East. This was reported by Reuters, writes UNN.
Details
The main driver of the price increase was the announcement by Fed Chairman Jerome Powell that he had received subpoenas from the Department of Justice. The investigation, which is linked to a personal conflict between Powell and President Donald Trump over interest rates, caused panic in financial markets.
Criminal investigation launched against Fed Chair Jerome Powell in the US12.01.26, 05:56 • 1552 views
Investors view gold as the last safe haven as US institutional stability is under threat
– market analysts comment on the situation.
Against the backdrop of this news, US stock futures went down, giving a "green light" for a further increase in the value of banking metals.
Geopolitical instability: Iran and US "show of force"
An additional factor in the price increase was the events in Iran, where the number of casualties during the protests exceeded 500 people. Tehran officially threatened attacks on US military bases in response to Donald Trump's statements about his readiness to intervene in the conflict on the side of the rebels.
Oil prices rise amid protests in Iran and new Trump decrees on Venezuela12.01.26, 05:11 • 1574 views
The situation is fueled by Trump's active foreign policy, which includes the recent removal of the Venezuelan president and discussions about the purchase of Greenland. Against the backdrop of such large-scale geopolitical shifts, silver also updated its highs, demonstrating stable demand for protective assets.
US dollar sharply fell due to pressure on Fed independence and the start of an investigation against agency head Powell12.01.26, 06:06 • 1632 views
