Gold surged nearly 60 USD per ounce, briefly approaching 3,540 USD, fueled by the prospect of US interest rate cuts and rising political and economic risks.
An independent Fed makes decisions that benefit growth, while history shows that concessions to presidents lead to high inflation, according to experts.
Demand for safe-haven assets surged as investor confidence in the Fed wavered following President Trump's dismissal of Fed Governor Lisa Cook, pushing gold prices up nearly 30 USD per ounce.
Fed governor Lisa Cook faces accusations of misrepresenting her primary residence on mortgage applications to secure lower interest rates, sparking outrage from former President Trump.
