Gold hits key $3,500 mark as Trump's attacks on Fed chief rattle traders

Anmol Choubey - Reuters - 22/04
Gold prices soared to a record high, hitting the crucial $3,500 mark on Tuesday, as concerns over U.S. President Donald Trump's criticism of Federal Reserve Chair Jerome Powell dampened risk sentiment and drove investors towards safe-haven bullion.
  • Trump warns of economic slowdown unless Fed cuts rates
  • Economic uncertainty to uphold gold demand despite likely pullback, analyst says
April 22 (Reuters) - Gold prices soared to a record high, hitting the crucial $3,500 mark on Tuesday, as concerns over U.S. President Donald Trump's criticism of Federal Reserve Chair Jerome Powell dampened risk sentiment and drove investors towards safe-haven bullion.
Spot gold was up 2.2% at $3,493.41 an ounce, as of 0620 GMT, after touching a record high of $3,500.05 per ounce earlier in the session.

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U.S. gold futures firmed 2.3% to $3,502.40.
"Investors have been giving a wide berth to U.S. assets amid tariff worries and Trump-Powell dramas, which has kept gold in prime position to capitalise on the dollar's woes," said Tim Waterer, chief market analyst at KCM Trade.
Trump reiterated his call for an immediate reduction in interest rates on Monday, warning that the U.S. economy could face a slowdown, while c...
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