Precious Metals Surge Amid Fed Scrutiny
Following this unprecedented milestone, the value of gold stabilized around $4,608.2 per ounce at 1320GMT, marking an impressive annual increase of approximately 71.5%.
Silver also experienced a sharp upswing, jumping more than 6.8% to reach $85.5 per ounce—an exceptionally elevated level. Over the past year, silver has skyrocketed by nearly 181%, underscoring its strong momentum.
The appetite for secure investments intensified due to apprehensions regarding the autonomy of the US Federal Reserve, alongside international challenges involving Venezuela and Iran.
Fed Chair Jerome Powell remarked on Sunday evening that federal prosecutors are investigating both Powell's testimony before Congress and a $2.5 billion refurbishment of the Fed’s headquarters in Washington.
According to the Fed Chair, this inquiry stems from President Donald Trump's persistent frustration with the Fed’s reluctance to reduce interest rates as quickly or aggressively as he has insisted.
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