Gold, Silver Hit Records After US Probe Targets Fed

Gold and silver surged to record highs after the US Justice Department targeted the Federal Reserve in an investigation, fuelling fears over the bank’s independence and raising demand for safe-haven assets.

Gold vaulted toward $4,600 an ounce and silver approached $85 for the first time after Fed chair Jerome Powell warned that a potential criminal indictment is part of President Donald Trump’s pressure campaign on monetary policy decisions.

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AFP