(Bloomberg) — Gold and silver climbed to records in a broad-based metals rally as the US Justice Department threatened the Federal Reserve with a criminal indictment, reviving concerns about the central bank’s independence.
The yellow metal spiked above $4,600 an ounce, while silver surpassed $85 after Fed Chair Jerome Powell said the potential indictment comes amid “threats and ongoing pressure” by the administration to influence interest-rate decisions. The dollar weakened and US 10-year Treasury yields edged higher.
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