Core Insights - Gold and silver prices surged to new all-time intraday highs following comments from Fed Chair Jerome Powell regarding threats to the central bank's independence from the Trump administration [1][8] Group 1: Price Movements - Gold futures increased by 2%, surpassing $4,600 per troy ounce, while silver rose above $84 per ounce after Powell's video statement [2] - Precious metals, including gold, silver, platinum, and palladium, benefited from a decline in the US dollar and equities [2] Group 2: Market Sentiment - The current demand for precious metals is driven by geopolitical instability and the reshaping of global power dynamics, rather than solely as a hedge against inflation or dollar weakness [5] - The recent capture of Venezuelan leader Nicolás Maduro and escalating tensions with Iran have contributed to increased safe haven demand for precious metals [4] Group 3: Central Bank Activity - Foreign central banks have been purchasing gold at a record pace, now holding more bullion than US Treasuries for the first time since 1996 [6] Group 4: Silver Market Dynamics - Silver has outperformed gold recently, with analysts noting a potential deficit due to China's restrictions on silver exports and increased industrial demand amid an AI and reshoring boom [6]

Core Insights - Gold and silver prices reached all-time highs following warnings from Fed Chair Jerome Powell about threats to the central bank's independence from the Trump administration [1][7] - Gold futures increased by 2% to over $4,600 per troy ounce, while silver surpassed $84 per ounce, driven by Powell's comments and a weakening US dollar [2][7] Market Dynamics - The surge in precious metals is attributed to safe haven demand amid geopolitical tensions and instability, as highlighted by Robin Brooks from the Brookings Institution [3][4] - Recent geopolitical events, including the US capturing Venezuelan leader Nicolás Maduro, have further fueled demand for gold and silver [4] Central Bank Activity - Foreign central banks have been purchasing gold at unprecedented rates, now holding more bullion than US Treasuries for the first time since 1996, indicating a shift in investment strategies [5] - Gold is increasingly viewed as a safeguard against geopolitical disorder rather than just a hedge against inflation or dollar weakness [5] Silver Market Trends - Silver has outperformed gold recently, with restrictions on silver exports from China contributing to a supply deficit amid rising industrial demand [6] - Analysts caution that while silver prices are climbing, there is an increasing risk of a sharp correction as prices reach new highs [6]