Daily News Nuggets | August 26 – Gold Rallies as Fed Independence Under Fire

Gold Hits $3,379 as Fed Drama Unfolds Gold climbed to approximately $3,379 per ounce Monday after President Trump announced plans to fire Federal Reserve Governor Lisa Cook. The news rattled markets, weakened the dollar, and sent investors rushing to safe-haven assets. With legal battles over Fed independence likely to drag on, expect continued volatility — and potentially more upside for gold — heading into September’s Fed meeting. Keep an eye on Friday’s PCE inflation data for the next major market catalyst. Fed Independence Battle Heats Up In an unprecedented move, President Trump announced he’s terminating Fed Governor Lisa Cook, […]
Precious Metal Gains Ground Amid Trump-Fed Standoff Over Governor’s Dismissal

Gold prices increased after President Trump attempted to remove Federal Reserve Governor Lisa Cook from her position, raising concerns about the Fed’s independence. The precious metal rose as much as 0.6% to near $3,376 per ounce, supported by a weaker dollar. Cook refused to resign, stating Trump lacks the authority to fire her. The move represents Trump’s continued efforts to influence Fed policy toward lower interest rates, which typically benefit gold prices.