Gold and Silver Industry & Investing News

President Trump is considering removing Federal Reserve Chair Jerome Powell before his term ends in May 2026. According to sources close to the administration, former Fed governor Kevin Warsh is the frontrunner to replace Powell if a change occurs. Warsh, who served during the 2008 financial crisis under Ben Bernanke, has publicly stated that the Fed is politically motivated – a view that aligns with Trump’s perspective. Trump advisor Steve Moore puts the chances of Powell’s early removal at “a little less than 50-50.” Other candidates include Kevin Hassett, Art Laffer, Larry Kudlow, and Fed Governor Chris Waller, who supports...

President Trump is threatening to remove Federal Reserve Chair Jerome Powell and has asked the Supreme Court to approve his dismissal of board members from other independent agencies. This challenges a 90-year-old precedent limiting presidential power to fire such officials except for neglect or malfeasance. Trump has already fired leaders at the Federal Trade Commission and Federal Election Commission, with these actions being contested in court. A dismissed FTC board member pointed out that legally, their position is equivalent to Powell’s, suggesting if Trump can legally remove them, he could do the same to Powell. Trump has publicly called for...

US financial markets experienced significant turbulence on Monday as investors reacted to growing speculation that President Trump might attempt to dismiss Federal Reserve Chairman Jerome Powell. The dollar dropped to its lowest level since December 2023, with the Bloomberg Dollar Spot Index falling as much as 1%, while US stock futures declined 1.3% and 10-year Treasury yields climbed. The market reaction intensified after National Economic Council Director Kevin Hassett acknowledged that Trump was studying the possibility of firing Powell, despite legal scholars noting that a president lacks clear authority to dismiss a Fed chair. Powell has previously stated he would...

Gold has reached a record high of $3,390 per ounce, driven by a weakening US dollar and increasing market uncertainty. President Trump’s criticism of the Federal Reserve and reports he considered firing Chair Powell have raised concerns about central bank independence, potentially undermining dollar confidence. Trade tensions between the US and China continue to unsettle markets, with China warning other nations against deals that might harm its interests. These factors, along with expectations of a global economic slowdown, have pushed investors toward safer assets. Institutional demand remains strong, with bullion-backed ETF holdings rising for 12 straight weeks and central banks...

Gold hit a record high of $3,400 per ounce on Monday, rising 2% amid dollar weakness and global economic concerns. The precious metal has gained over $700 since the start of 2025, driven by U.S.-China trade tensions, Trump’s criticism of Fed Chair Powell, and growing questions about the dollar’s reserve currency status. A growing number of analysts project gold could reach $3,500 in the coming months.

According to Goldman Sachs, gold prices have reached record levels due to consistent overnight buying from Asian markets over eight straight days. Trading volumes during these sessions have been notably higher than average. Despite the substantial price increases, Goldman notes that market positioning has not yet become overextended, suggesting room for further growth. The investment bank has established a bullish year-end target of $3,700 per ounce for gold. Additionally, they’ve identified a “tail-risk scenario” where prices could surge dramatically to $4,500 per ounce if the Federal Reserve implements unexpected changes to its monetary policy.

Recent Federal Reserve surveys reveal US manufacturers’ growing concerns about Trump’s tariff plans. The Philadelphia Fed’s April manufacturing index plunged to -26, its lowest since April 2023, while the prices paid index hit a 21-month high. Similarly, the New York Fed’s survey showed deteriorating business expectations, with its future business climate index reaching its lowest point since 2009. These worrying indicators emerge as Trump’s “Liberation Day” tariffs push effective US tariff rates to their highest level in a century, with economists warning of increased inflation and slower economic growth.

Physical gold demand in India has virtually disappeared as prices have rallied to unprecedented levels, forcing dealers to offer steep discounts of up to $74 per ounce over official domestic prices. Indian domestic gold prices reached a record high of 95,894 rupees per 10 grams, a level that even market bulls didn’t anticipate a few months ago. Banks had increased their gold imports in March at significantly lower prices and are now offering these supplies at substantial discounts. Although gold was imported ahead of the Akshay Tritiya festival, the dramatic price spike is expected to dampen festival demand considerably. In...