Gold prices broke $3,400 on Monday, hitting a new record as President Donald Trump’s threats against the Federal Reserve’s independence and his tariffs shake investor confidence in the U.S. economy.
Gold futures jumped 3.15% to $3,433.10 per ounce by 9:56 a.m. ET on Monday, with investors buying the precious metal as the dollar hit a three-year low. Gold has jumped about 30% since the start of the year and more than 8% since Trump unveiled his sweeping tariffs on April 2.
The president ramped up pressure on Fed Chair Jerome Powell on Monday, calling him a “major loser” and demanding that the central bank lower interest rates now.
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