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Gold trades near record highs as Trump's Fed push fuels 'growing global investor unease'
Gold (GC=F) prices moved higher Tuesday to trade near record levels after President Trump moved to oust Fed governor Lisa Cook late Monday over alleged mortgage fraud, raising fresh concerns about the central bank's independence. Wall Street sees the precious metal's upward movement as far from over, especially if Cook, who has refused to step down, is replaced. "We think the episode will add to growing global investor unease over Trump's efforts to influence the independent central bank," UBS chief investment officer Americas and Global Head of Equities Ulrike Hoffmann-Burchardi said. Gold futures in New York ... (full story)
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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 ...
From brecorder.com | Aug 26, 2025
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 ...
