Gold prices surged to a record high above $3,500 an ounce as concerns mounted over potential threats to the Federal Reserve’s independence. President Donald Trump’s public criticism of Fed Chair Jerome Powell, including calls for immediate interest rate cuts, has triggered a flight to safe-haven assets. This resulted in a significant rally for gold, with bullion gaining over 2% on Tuesday following a 2.9% increase in the previous session. The dollar fell to its lowest level since 2023 amid uncertainty surrounding US monetary policy.
— new from Bloomberg.com
