Gold prices are rising after Trump's discharge for a member of the Federal Reserve

Gold rose after US President Donald Trump immediately rejected Federal Reserve, Lisa Cook, and expressed concern about the independence of the central bank and increased expectations of demand for safe havens. The precious metal rose 0.6% in early Asian transactions, reducing its previous losses, after Trump published the advertisement on his account in ‘Truth Soshal’ late Monday. The dollar has dropped against all major currencies, and the returns of short -term bonds have fallen, which supported the price of gold in the dollar. This step is the latest Trump effort to push the Federal Reserve Leadership, which he repeatedly invited to lower interest rates. The central bank has so far held its stable monetary policy, amid the fear that Trump’s customs duties will increase inflation, but President Jerome Powell on Friday indicated the possibility of amending the policy in September. Usually there are no -house -inserted assets, such as gold, benefit from reducing interest. Trump’s move could include the majority in the Federal Council to dismiss Cook, which faces fraud accusations, will allow Trump to secure a majority of four members of the seven council. Earlier this month, economic advisers’ speaker Stephen Miran chose to replace Adriana Kogler, who left her position early. “Any new candidate will be seen as fully complying with Trump’s line asking for a more facilitated policy. For gold, this means supporting increasing expectations to reduce interest, as well as investors undermining the risk of long -term inflation and institutional risks in the future,” said Charo Chanana, strategic expert at Saksu Capital Markets. The precious metal increased by more than 25% this year, with most profits in the first four months due to the escalation of geopolitical and commercial tensions that strengthened the demand for safe ports. As its highlight exceeded more than $ 3.500 a gram in April, gold does not have new rising rising rising, although many market monitors, including City Group and the Wealth Management Unit at UPS, expect more profits this year. Traders also monitor personal data for consumer spending in the United States scheduled on Friday. The index, which excludes food and energy, is expected to record the fastest annual rate in five years, which could limit the ability of the Federal Reserve to lower interest rates. And flour gold rose 0.2% to $ 3,373,58 per gram at 09:38 in Singapore. While the “Bloomberg” index of the dollar fell 0.2%, it rose to 0.5% on Monday. Silver, platinum and bolladium also rose. The buyer increased by 0.5% to $ 9,845.50 per tonne at the same hour in Singapore. While other basic minerals have decreased, as nickel fell by 0.3% and aluminum by 0.2%.