Gold prices are declining amid Trump's attempt to dismiss a member of the federal

Gold has decreased with investors taking the possibilities of a legal battle between the White House and a member of the US Federal Reserve, after US President Donald Trump moved this week to dismiss the Central Bank policymaker. The alloys circulated near the $ 3380 per ounce level on Tuesday to a 0.8%increase, because Trump said he was ready for a legitimate battle with Lisa Cook, who faced accusations of fraud in mortgage loans after her lawyer promised to submit a lawsuit. If the president, who lowers interest rates, succeeds in rejecting Cook, will give him the opportunity to ensure a majority in the Governor’s Council. So far, the Federal Reserve has resisted the White House pressure to lower the borrowing costs, although Council President Jerome Powell opened the door with caution on Friday to a possible reduction next month. There is concern that the course with early interest rates could attract inflation and undermine confidence in the central bank, a scenario that will improve demand for sanctuaries such as gold. Gold .. strong profits in 2025 increased the precious metal in more than a quarter of this year, with most of these profits in the first four months, as rising geopolitical and commercial tensions are fed. Gold remained in a practical stable road as it peaked in April of over $ 3500 per gram, although some major banks, including ‘City Group’ and the Wealth Management Unit at UPS Group, expect extra profits later this year. The immediate gold price fell 0.4% to $ 3381.67 per gram at 14:18 Singapore time. On the other hand, the “Bloomberg” index of the dollar rose 0.2% after the previous day fell 0.2%, which increased the pressure on the metal in the dollar. As for silver, platinum and bolladium, they all registered. The market awaits personal consumption data in the United States scheduled for Friday. The index is expected to accelerate, with the exception of food and energy, at the fastest annual rate in five years, which will limit the federal ability to lower interest rates. * The prices have been updated to reflect the reality of the market