Gold leaps to record high, dollar drops as US prosecutors target Fed's Powell
Gold vaulted to a record high and both the dollar and Wall Street futures fell on Monday, as a criminal investigation into Federal Reserve Chair Jerome Powell stoked concerns about the independence of the world's most influential central bank. Powell slammed the move as part of US President Donald Trump's push for greater control over the Fed, while for traders it added to a frenetic start to 2026, which has already seen the US capture Venezuela's Nicolas Maduro and set its sights on Greenland.
Gold vaulted to a record high and both the dollar and Wall Street futures fell on Monday, as a criminal investigation into Federal Reserve Chair Jerome Powell stoked concerns about the independence of the world's most influential central bank.
Powell slammed the move as part of US President Donald Trump's push for greater control over the Fed, while for traders it added to a frenetic start to 2026, which has already seen the US capture Venezuela's Nicolas Maduro and set its sights on Greenland.
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