Gold smashes $4,600 record as Powell charges ignite haven frenzy
This story raises questions about governance, accountability, and American values.
The mainstream framing treats gold’s spike as a kind of market mood ring, as if “haven frenzy” is just another quirky headline. But when the Department of Justice brings charges against a sitting Fed chair, investors are not being superstitious. They are pricing in a deeper worry about whether America’s most important economic institutions are becoming political battlegrounds.
New Republican Times Editorial Board
Gold (XAU/USD) rallies to new record high past $4,600 on Monday due to safe-haven flows courtesy of the US Department of Justice, which presented charges against the Federal Reserve Chair Jerome Powell over the building’s renovations.
At the time of writing, XAU/USD trades at $4606, up more than 2%.
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New Republican Times Editorial Board
The mainstream framing treats gold’s spike as a kind of market mood ring, as if “haven frenzy” is just another quirky headline. But when the Department of Justice brings charges against a sitting Fed chair, investors are not being superstitious. They are pricing in a deeper worry about whether America’s most important economic institutions are becoming political battlegrounds.
Conservatives don’t reflexively defend any official. We care about rule of law, and that means serious allegations should be tested in court, not tried through selective leaks and market theatrics. At the same time, using prosecutions to settle elite Washington disputes corrodes public trust and invites the perception of politicized justice.
Gold at $4,600 is a warning: markets value institutional stability more than spin. If we want a strong dollar and a confident economy, accountability must be real, consistent, and insulated from partisan incentives.
Commentary written with AI assistance by the New Republican Times Editorial Board.