Gold Surges To $4.6K

Benzinga

Gold and silver hit record highs as investors sought safe havens amid uncertainty over a Trump administration probe into Fed Chair Jerome Powell and interest rate outlook.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Gold and silver prices surged to record highs Monday as investors sought safe haven assets

00:07amid uncertainty tied to a Trump administration criminal progue into Federal Reserve Chair Jerome

00:12Powell, according to CNBC. Spot Gold rose 2.2% to $4,609.58 per ounce after hitting an intraday

00:22record of $4,629.94, while U.S. gold futures for February settled 2.5% higher at $4,614.70.

00:34Silver hit an all-time high of $85.75 and traded up 6.9%. Analyst Michael Hay said growing and

00:43recurring uncertainty continues to directly support strength in the gold market.

00:47The Trump administration has escalated pressure on the Federal Reserve by threatening to

00:52indict Chair Jerome Powell over renovation comments, which Powell said are a pretext to

00:57influence interest rate decisions. Markets also responded to expectations that the Fed will

01:02hold rates steady later this month, with two rate cuts still priced in for later this year.

01:07For all things money, visit Benzinga.com.

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