:format(webp)/YXJ0aWNsZXMvaW1hZ2UvMjAyNS85LzIwMjUwOTI2LWdhZi11NTUtMTcyLmpwZw.webp?w=1920)
Gold Tops $3500 for the First Time Amid Trump’s Pressure on Powell
Markets flee to safe assets as Fed chairman faces criticism.
Gold prices continued their rapid rise on Tuesday, surpassing $3500 per ounce for the first time in history. The rally was driven largely by concerns over U.S. President Donald Trump’s attack on Federal Reserve Chairman Jerome Powell.
According to trading data, the spot price of gold rose 1.93% to $3490 per ounce, while June futures climbed 2.17% to $3500, temporarily peaking at $3504 per ounce.
Investors are avoiding risk assets amid tariff wars and criticism of the Fed, favoring safe-haven instruments. Analysts note that demand for gold remains strong despite the potential for market corrections amid rising uncertainty.
Previously, Donald Trump called for an immediate cut in interest rates, accusing Powell of delaying measures to support the economy. Powell responded by stating that he would not change monetary policy without fully assessing the effects of the White House’s tariff actions.
Additional market pressure came from China’s accusations against the U.S. of tariff abuse and warnings to countries considering agreements with Washington.
Amid growing turbulence, other precious metals also rose: silver increased by 0.5% to $32.86 per ounce, platinum rose 0.9% to $969.95, and palladium strengthened 2% to $946.17.
Markets are now awaiting speeches by Fed officials in the coming days to assess the outlook for future monetary policy under mounting pressure.
Do you have news that could become a sensation?
Or do you want to try yourself as an editor?
On altn.news , it's possible!
Share your materials, express your opinion, and test your skills as a journalist or editor.
It’s simple:
✅ Download the app:
✅ Register on the website.
✅ Create and publish your news.
Who knows, maybe your material will become the next big headline!
Start today on altn.news.
The editorial board is not responsible for the content and accuracy of material taken, sent or obtained from other sources. The publication of such materials is for informational purposes only and does not imply automatic endorsement or approval of their content.
