Gold jumps to a new all-time high as the DOJ seeks a pretext to fire Fed Chair Powell

"The surge in gold prices is largely driven by the unprecedented political pressure from the DOJ on the Federal Reserve. This situation creates a narrative of uncertainty regarding Fed independence, potentially leading to inflation risks that market participants are increasingly attentive to. However, upcoming economic data, particularly the CPI report, may introduce volatility and could trigger sell-offs if the market perceives hawkish signals from the Fed. Thus, while the long-term outlook for gold remains bullish, traders must remain vigilant of short-term price fluctuations."