Gold Retreats from Record High as Dollar Gains and Fed Attacks Continue
Gold eased from a record high after weaker-than-expected US inflation data and renewed White House attacks on the Federal Reserve, while silver briefly topped $89 an ounce.
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Gold eased from a record high after weaker-than-expected US inflation data and renewed White House attacks on the Federal Reserve, while silver briefly topped $89 an ounce.
Gold and silver hit record highs Tuesday morning amid safe-haven concerns, while corn, soybeans, and wheat markets fell. A new tariff threat on countries trading with Iran raised questions about soybean imports from China.
Gold futures opened at $4,610 per troy ounce on Tuesday, down 0.1% from Monday's close. The price reached an all-time high of $4,620 yesterday. Federal Reserve Chair Jerome Powell commented on an ongoing investigation by the Trump administration, stating it continues attempts to manipulate interest rates.