Gold Soars to Record High Amid Fed Subpoenas and Iran Tensions

• Gold reached a new record high, nearing $4,600 an ounce, driven by multiple geopolitical and economic factors.
• The US Justice Department issued grand jury subpoenas to the Federal Reserve, escalating President Trump's feud with Chair Jerome Powell and raising concerns about the Fed's independence.
• Intensifying protests in Iran increased the safe-haven appeal of precious metals, with President Trump considering options regarding the Islamic Republic.
• Analysts highlight market uncertainties including geopolitics, growth/rates debate, and institutional risk premiums as key drivers for gold's surge.
• Expectations for further US interest rate cuts, following weak jobs data, continue to support non-yielding precious metals like gold and silver.

Why It Matters: Gold hits record highs due to US Fed legal challenges, Iran instability, and anticipated interest rate cuts.