Gold Slips From Record as DOJ Probe of Powell and Trump Attacks Jolt Markets

Overview

• February Comex gold settled down 0.34% at $4,599.10 an ounce after topping $4,600 for the first time on Monday.
• Spot prices hovered near $4,586 earlier as a firmer dollar curtailed gains following the inflation print.
• The Justice Department has opened a criminal investigation into Fed Chair Jerome Powell, and President Trump renewed public criticism, intensifying concerns about central‑bank independence.
• CME Group will shift gold, silver, platinum and palladium futures to percentage‑of‑notional margining effective at today’s close to address higher prices and volatility.
• Cross‑asset moves included a roughly 0.28–0.29% rise in the dollar index, selling in Treasuries along the curve, and heightened silver volatility after a 6.7% jump on Monday.