Summary
- It reported that gold and silver prices hit record highs as safe-haven demand strengthened on news of a U.S. Department of Justice probe into Federal Reserve Chair Jerome Powell.
- It said gold futures rose 2.5% to $4,604.30 per ounce and silver futures jumped 7.3% to $84.61.
- It added that the market sees concerns over damage to the Fed’s independence potentially increasing financial-market volatility, which has spurred buying in gold and silver.
Forecast Trend Report by Period
According to Walter Bloomberg, a breaking economic news account, on the 12th (local time), gold and silver prices hit record highs as risk-off sentiment strengthened after reports emerged of a U.S. Department of Justice (DOJ) investigation into Federal Reserve (Fed) Chair Jerome Powell.
Gold futures rose 2.5% to $4,604.30 per ounce, while silver futures surged 7.3% to $84.61. The market is pricing in the risk that concerns over potential damage to the Fed’s independence could amplify volatility in financial markets, fueling buying in gold and silver.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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