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Gold, Silver Spike To Record Highs As Fed Independence Falters - MACOM Technology Solns (NASDAQ:MTSI)
Gold and silver hit all-time highs as investors respond to expectations of two Federal Reserve rate cuts and rising geopolitical tensions focused on Iran, analysts say.
- On Monday, global precious metals markets saw gold and silver prices jump to record highs, with bullion hitting $4,600.33 and silver reaching $83.96 earlier in the day.
- Amid rising geopolitical tensions, unrest in Iran has killed more than 500 people and Tehran threatened U.S. bases, while U.S. employment growth slowed in December, boosting expectations of at least two Fed rate cuts this year.
- Futures activity indicated U.S. gold futures for February delivery firmed 1.8% to $4,579.10, while the dollar retreated from its strongest level in a month.
- Political and policy pressure contributed to safe‑haven assets gaining as Federal Reserve Chair Jerome Powell said the Trump administration threatened him with a criminal indictment, a `pretext` to pressure the Fed to lower rates amid geopolitical/economic uncertainty.
- Looking beyond gold and silver, spot platinum climbed to $2,349.59 after a December 29 peak of $2,478.50, while palladium gained to $1,877.96, and Waterer said central banks' appetite will grow this year.
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Gold hits new high as Powell-Trump rift stokes demand
Gold broke through $4,600 an ounce for the first time today. while silver also hit a record high, as investors snapped up safe-haven assets amid heightened geopolitical uncertainties and a criminal probe into Federal Reserve Chair Jerome Powell.
·Ireland
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Gold surpasses $4,600 an ounce for the first time in history. The price of gold surpassed $4,600 an ounce on Monday, supported by escalating geopolitical and economic tensions and expectations of a US interest rate cut, while silver also hit an all-time high.
·Amman, Jordan
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Coverage Details
Total News Sources26
Leaning Left1Leaning Right4Center3Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
13%
C 37%
R 50%
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