Precious metals futures rise as DOJ drops Powell probe and Warsh's Fed chair prospects strengthen
Updated
Updated · The Wall Street Journal · Apr 23
Precious metals futures rise as DOJ drops Powell probe and Warsh's Fed chair prospects strengthen
10 articles · Updated · The Wall Street Journal · Apr 23
Gold closed up 0.4% at $4,722.30 a troy ounce and silver gained 1.2% to $76.383, despite both posting weekly losses.
The Department of Justice's decision to end its investigation into Jerome Powell provided a late-week boost to precious metals, with market sentiment favoring Kevin Warsh as the next Federal Reserve chair.
Both gold and silver broke their weekly winning streaks, but the DOJ move is viewed as positive for metals, reflecting hopes for a dovish Fed leadership and potential shifts in monetary policy.
Why did gold prices see their biggest weekly drop in a month despite record-high central bank buying?
Is the historic shift from US Treasuries to gold by central banks a temporary hedge or permanent realignment?
Can silver's price, fueled by an industrial deficit, decouple from gold's sensitivity to interest rate changes?
Are markets overestimating the chance of immediate rate cuts under new Federal Reserve leadership?
How would a new Fed chair balance fighting oil-driven inflation against pressure to finally cut interest rates?
Can the global economy avoid recession with the Strait of Hormuz, a key oil artery, nearly shut down?