This morning, U.S. federal prosecutors officially launched an investigation into Fed Chair Jerome Powell regarding the renovation of the Federal Reserve’s headquarters.
Previously, rumors had circulated suggesting that Powell engaged in “non-transparent” actions during the headquarters renovation process, and this issue is considered one of the key factors giving Donald Trump sufficient grounds to remove the Fed Chair from his position.
Immediately after the news was released, gold prices surged sharply, breaking the previous all-time high and reaching the 4,600 USD/ounce area within less than two hours after the market opened at the start of the week.
Meanwhile, in the Middle East, Israel and the United States held discussions regarding potential U.S. intervention in Iran during a phone call last Saturday.
There is a high likelihood that the Donald Trump administration will intervene in Iran if any conflict arises between Iranian protesters and the Islamic Revolutionary Guard Corps.
All of these factors are strongly supporting gold prices at the beginning of 2026, and this year gold is very likely to reach the 4,900–5,000 USD/ounce range just before the Fed appoints a new Chair.
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