Gold prices rose near record levels after President Trump moved to oust Fed governor Lisa Cook over alleged mortgage fraud, sparking concerns about central bank independence. Wall Street expects the precious metal’s ascent to continue, with UBS predicting gold to reach $3,700 by June 2026. A weaker dollar and Fed credibility issues could further boost gold prices, according to analysts. The uncertainty surrounding Cook’s tenure on the board and potential Trump appointees could impact Fed policies and gold prices. Gold futures are up 31% year to date, outperforming the S&P 500.

Read more at Yahoo Finance: Gold trades near record highs as Trump’s Fed push fuels ‘growing global investor unease’