Gold Tops $3,500 As Investors Flee To Safety: Mohamed El-Erian Warns Of Global System Shift Amid Trump-Powell Tensions

Gold prices soared past $3,500 per ounce Tuesday, marking a new milestone as investors rushed to safe-haven assets, according to Benzinga. The surge comes amid rising concerns over U.S. economic stability and the Federal Reserve’s independence. The SPDR Gold Trust jumped on Monday as fears intensified following President Donald Trump’s renewed attacks on Fed Chair Jerome Powell. Allianz Chief Economic Advisor Mohamed El-Erian wrote in the Financial Times that the surge in gold reflects deeper shifts in the global financial system, including growing central bank diversification away from the dollar. The U.S. Dollar Index dropped to a two-year low, while Bitcoin mirrored gold’s momentum.