Jerome Powell got a direct question about the U.S. ‘losing credibility’ and the soaring price of gold and silver. He punted

Fed Chair Jerome Powell surprised some investors Wednesday afternoon with his comments about the gold and silver rally. The two precious metals, the most classic of the “safe-haven” assets, have the tangibility and inherent scarcity to act as a hedge in moments of turmoil, particularly when investors worry that politics or policy could undermine the value of the dollar or U.S. government bonds. That is why the metals’ relentless rally to record highs since late last year—gold is up 84% year over year and ...