A golden bar one kilogram at Gold Investments Ltd. Bullion Dealers organized in London, in the United Kingdom, April 3, 2025.
Chris Ratcliffe | Bloomberg | Getty images
Gold prices broke $ 3,400 on Monday, reaching a new record as threats from President Donald Trump against the independence of the Federal Reserve and his prices shake the confidence of investors in the American economy.
Gold Tower contracts jumped 2.91% to close the ounce $ 3,425.30, investors buying precious metal because the dollar has reached a hollow of three years. Gold has jumped approximately 30% since the start of the year and around 8% since Trump unveiled his radical prices on April 2.
The president has increased the pressure on the president of the Fed, Jerome Powell, calling him “major loser” and demanding that the central bank are lowering interest rates now.
Trump said last Thursday that “Powell's termination could not come quickly enough”, after the head of the American central bank warned that the president's prices would likely increase short -term inflation. Trump is looking for if he can dismiss Powell, the White House economic advisor Kevin Hassett said on Friday.
Gold has been in tears this year while confidence in American falls and central banks buy precious metal. Citi sees gold prices get back to $ 3,500 in the next three months, the investment request exceeds Mines supply.
“We believe that the American and global growth concerns related to prices should continue to combine with a strong central bank and another institutional request,” analysts led by Kenny Hu with a recent note said.
