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Gold (GC=F) prices are hitting record highs as investors react to mounting trade tensions and President Trump's fresh criticism of Federal Reserve Chairman Jerome Powell.
Yahoo Finance Senior Markets Reporter Ines Ferré breaks down the details on Morning Brief.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Gold prices are surging to yet another record high as investors weigh concerns over President Trump's criticism of the Fed and an escalating trade war. Yahoo Finance senior markets reporter, Ines Ferre has the story. Hey, Ines.
Hey, Brad. And we are seeing gold at all time high levels right now with President Trump just about 10 minutes ago posting another post on Truth Social criticizing Fed chair, Jerome Powell. So you are seeing right now gold futures at $3,436 per ounce. I do want to mention the US dollar which has been under pressure. This has been sending gold prices higher at, uh, look high after high that we've had year to date. We are looking at gold up 30%. You've had Wall Street really upping their price targets on the precious metal. Goldman Sachs uh last week saying that gold will reach 3700 uh by year end perhaps. An upside risk would be even going higher than that uh by year end. And Goldman Sachs even also noting that despite these record levels, they're saying that this is still a good entry point because they're noticing that we've had very few dips over the last month, and when we have had some dips, you have seen Asian official buying. I.e., that means the Chinese Central Bank, guys.