Gold stabilizes amid Trump-Powell speculations
Gold settled at about $3,343.61 per ounce on Wednesday after a rollercoaster sparked by rumors that President Trump might fire Federal Reserve Chair Jerome Powell.
Markets calmed down when Trump said he had "no plans" to remove Powell, and gold, along with metals like platinum and palladium, held steady while the dollar edged up slightly.
Why gold is shining bright this year
Gold is often seen as a safe place to park your money when things get shaky.
With all the political drama and worries about who controls US monetary policy, more people have been turning to gold—helping it jump 26% so far in 2025.
Central banks and investors are piling in, especially with ongoing trade tensions keeping everyone on edge.
Gold prices likely to stay near these levels for now
After a big rally earlier this year (gold even crossed $3,400), prices are now pausing as traders wait for clearer economic signals.
With mixed inflation data and interest rates holding steady, analysts think gold will stick near these levels for now—and could climb toward $3,675 by the fourth quarter of 2025 if uncertainty keeps hanging around.