Silver Hits Record High, Gold Rises Amid Geopolitical Tensions and Fed Concerns

• Silver reached a record high of $89.9965 an ounce, while gold neared its all-time peak.
• Weaker-than-expected US inflation data fueled expectations for more interest rate cuts.
• Geopolitical tensions, including US actions against Venezuela and Iran protests, boosted haven demand for precious metals.
• Concerns over a potential indictment of Federal Reserve Chair Jerome Powell raised questions about the Fed's independence.
• Citigroup analysts upgraded gold and silver forecasts to $5,000 and $100 per ounce respectively for the next three months.

Why It Matters: Silver and gold surge to new highs driven by inflation data, geopolitical risks, and Fed independence concerns.