Lates News

The price of gold fell during early trading, but still held above the $4,600 mark, as concerns about the independence of the Federal Reserve intensified and tensions in Iran escalated. New York gold futures prices fell slightly by 0.3% to $4,602.50 per ounce as traders took profit after the precious metal hit a historic high in the previous trading day. The U.S. dollar index, which measures the dollar against a basket of other major currencies, rose by 0.1% to 98.98. An analyst at Shengbao Bank said, "The dollar has rebounded from the selling wave, which was triggered by market concerns that the Trump administration is weakening the independence of the Federal Reserve." However, gold continues to be supported by broader economic and geopolitical risks, as President Trump has decided to impose a 25% tariff on any country doing business with Iran, further increasing gold's safe-haven appeal.