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Gold hits 2-week high as dollar dips after Trump fires Fed’s Cook
Gold rose to a two-week high on Tuesday, as the dollar slipped after US President Donald Trump said he was removing Federal Reserve Governor Lisa Cook. Spot gold rose 0.2% to $3,371.28 per ounce, as of 0309 GMT, after hitting its highest level since August 11 earlier in the session. US gold futures for December delivery were steady at $3,418.90. “Trump has put traders a little bit on edge once again with his comments about Fed Governor Cook, which has resulted in gold picking up additional safe haven flows today,” KCM Trade chief market analyst Tim Waterer said. “There is a sense that Trump may be reshaping the ... (full story)
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US Pres Trump Removes Fed's Cook From Position, Effective Immediately – TSL pic.twitter.com/iwq563ZY4H TRUMP REFERENCES MORTGAGE-RELATED ACCUSATIONS IN MESSAGE TO FED’S COOK. Trump says he is removing Fed Governor Lisa Cook from her position in a post on his social media account pic.twitter.com/gLo3aYVH4y
President Trump said late Monday he has removed Federal Reserve Governor Lisa Cook from her post, following through on a threat to oust her if she refused to resign. The decision comes after members of his administration alleged Cook engaged in mortgage fraud related to the purchase of two properties earlier this decade. "You are hereby removed from your ...
The dollar and longer-dated U.S. Treasuries slid on Tuesday after President Donald Trump announced he was firing a Federal Reserve governor, an unprecedented move that further undermines confidence in the Fed’s independence and U.S. assets. The U.S. currency fell against the yen and euro after Trump said he was removing Lisa Cook from her position on the ...
