Gold hits new record levels amid escalating tensions between Trump and Powell.

Gold prices hit unprecedented levels today, Tuesday, April 22, supported by a wave of market anxiety due to the recent escalation between U.S. President Donald Trump and Federal Reserve Chairman Jerome Powell, prompting investors to turn to the precious metal as a safe haven amid unstable economic conditions.

Record High Prices

The price of gold in spot trading reached $3,500 per ounce for the first time in history, while U.S. gold futures jumped by 2.02% to $3,497.10 per ounce, after touching $3,509.90 during the session, marking an all-time high.

Investors Shift Away from U.S. Assets

Tim Water, Chief Market Analyst at "KCM Trade," told Reuters that "increasing tensions regarding tariffs and the public dispute between Trump and Powell have led investors to move away from U.S. assets, strengthening gold's position as an ideal choice amidst the weak dollar."

Escalating Monetary Policy Dispute

Trump renewed his criticism of the Federal Reserve on Monday, April 21, calling for an immediate interest rate cut, warning of the risks of economic growth slowdown, while Powell insisted on waiting for clarity on the impact of trade policies on inflation rates before making any decisions.

Consecutive Effects on Global Markets

These developments have caused turmoil in Asian markets, which failed to stabilize after a sharp sell-off of U.S. assets, increasing pressure on the dollar and leading to declines in Wall Street indicators.

Trade Tensions Looming

In a related context, China accused the United States of unfairly exploiting tariffs and warned other countries against making economic deals with Washington that could harm Beijing's interests, adding a new layer of uncertainty to the global scene.

Gold Maintains its Upward Momentum

Gold surpassed the $3,300 per ounce mark last week and continued its rise on Monday to reach $3,400 before achieving the new surge today.

Investors' attention is now turning to the anticipated statements of Federal Reserve officials in the coming days, seeking indicators that shed light on the path of monetary policy amid growing concerns about the central bank's independence.