Gold, Silver Spike To Record Highs As Fed Independence Falters: What’s Moving Markets Monday?

Gold and silver surged to fresh record highs Monday as investors reassessed the Federal Reserve’s independence fears amid a new political escalation.
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Gold prices — as tracked by the SPDR Gold Shares (NYSE:GLD) — jumped 2.5% to $4,620 an ounce, setting another all-time high. Silver also soared more than 7% to $86 an ounce, extending its 12-month rally to over 190%
The move followed reports that the Department of Justice opened a criminal probe into Federal Reserve Chair Jerome Powell over renovation costs at the Fed’s headquarters.
Powell framed the investigation as a pretext to pressure the central bank into cutting interest rates, directly clashing with President Donald Trump’s policy demands.
Markets read the development as another attempt by the administration to challenge the Fed’s independence, with investors selling Treasuries and rotating aggressively into precious metals.
Major stock averages on Wall Street showed timid gains as the market adopted …Full story available on Benzinga.com

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