Video message from Federal Reserve Chair Jerome H. Powell: https://t.co/5dfrkByGyX pic.twitter.com/O4ecNaYaGH — Federal Reserve (@federalreserve) January 12, 2026These tend to carry less risk than other investments, such as stocks and shares, and often outperform financial markets during periods of turbulence. Gold prices have shot up by about 70% over the past year, strengthening against broader economic and political uncertainty. The latest rush to the precious metal came after US central bank chairman Jerome Powell said it was being threatened with a criminal indictment over his testimony about renovations at Federal Reserve office buildings. It represents a significant escalation in President Donald Trump’s criticism of the Federal Reserve and its decisions not to cut interest rates as quickly as he would prefer. Susannah Streeter, chief investment strategist at Wealth Club, said Wall Street has been “rattled by what’s being viewed as another assault on the independence of the US Federal Reserve”.

Source: The Herald January 12, 2026 14:57 UTC