President Donald Trump’s assault on the Federal Reserve risks stoking inflation, curbing investment and undermining confidence in the US economy. For gold bulls, it’s a tantalizing scenario reinforcing a record-breaking rally that’s made the metal one of this year’s hottest assets.
Bullion powered to fresh peaks above $3,500 an ounce this week, with wagers that the Fed will soon start cutting interest rates helping to fortify a three-year bull run built on voracious central-bank buying, and mounting worries about the global economy.