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#GOLD hits record high and dollar weakens on Fed independence worries
Long-term inflation expectations tick up after US prosecutors launch criminal investigation into #chairPowell

Gold prices climbed as much as 2% to $4,600 a troy ounce for the first time on Monday Angel García/Bloomberg
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Ian Smith and Rachel Rees in London and William Sandlund in Hong Kong

Gold jumped to a record high and the dollar fell on Monday after US prosecutors launched a criminal investigation into #FederalReserve chair Jay Powell, stoking concerns about the central bank’s independence.

The precious metal climbed as much as 2.7 per cent to more than $4,600 a troy ounce, while the dollar weakened 0.3 per cent against a basket of major currencies including the pound and the euro. Silver jumped as much as 7.8 per cent to a fresh record above $86 per troy ounce.

US stocks were marginally higher, recovering from earlier falls.

The yield on the 10-year Treasury, which moves inversely to the price, climbed to nearly 4.21 per cent before falling back to 4.18 per cent by lunchtime in New York.

“The risk is that the gloves are off for the coming quarters” between the White House and the Fed, said Kevin Thozet, a member of the investment committee at asset manager Carmignac.

Powell on Sunday said the Fed had received grand jury subpoenas and a threat of criminal indictment from the justice department relating to his testimony before Congress about a $2.5bn renovation of the central bank’s headquarters.

Investors said the dollar and gold moves reflected the risk that US policy rates could be held lower than they would otherwise be due to political pressure, with the potential for higher long-term inflation and monetary policy uncertainty as a result.

Market measures of long-term inflation expectations also ticked up, with 10-year break-even rates reaching 2.3 per cent for the first time since November.
We’ve been here before — political pressure on the Fed means a lower US dollar, higher long-end US Treasury yields and higher inflation expectations,” said Mike Riddell, a fund manager at Fidelity International.

But the scale of the market moves was relatively small, with many investors backing rate setters to remain independent.

“My expectation again is that the committee will continue to make decisions on the back of their mandate and the economic data,” Jan Hatzius, chief economist at Goldman Sachs, told a conference in London.
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#GOLD hits record high and dollar weakens on Fed independence worries
Long-term inflation expectations tick up after US prosecutors launch criminal investigation into
Gold prices climbed as much as 2% to $4,600 a troy ounce for the first time on Monday Angel García/Bloomberg
Gold hits record high and #UDST weakens on Fed independence worries on #X (opens in a new window)
Gold hits record high and dollar weakens on Fed independence worries on facebook (opens in a new window)
Gold hits record high and dollar weakens on Fed independence worries on linkedin (opens in a new window)
Gold hits record high and dollar weakens on Fed independence worries on whatsapp (opens in a new window)
Save
Ian Smith and Rachel Rees in London and William Sandlund in Hong Kong

Gold jumped to a record high and the dollar fell on Monday after US prosecutors launched a criminal investigation into #FederalReserve chair Jay Powell, stoking concerns about the central bank’s independence.
The precious metal climbed as much as 2.7 per cent to more than $4,600 a troy ounce, while the dollar weakened 0.3 per cent against a basket of major currencies including the pound and the euro. Silver jumped as much as 7.8 per cent to a fresh record above $86 per troy ounce.
US stocks were marginally higher, recovering from earlier falls.
The yield on the 10-year Treasury, which moves inversely to the price, climbed to nearly 4.21 per cent before falling back to 4.18 per cent by lunchtime in New York.
“The risk is that the gloves are off for the coming quarters” between the White House and the Fed, said Kevin Thozet, a member of the investment committee at asset manager Carmignac.
Powell on Sunday said the Fed had received grand jury subpoenas and a threat of criminal indictment from the justice department relating to his testimony before Congress about a $2.5bn renovation of the central bank’s headquarters.
Investors said the dollar and gold moves reflected the risk that US policy rates could be held lower than they would otherwise be due to political pressure, with the potential for higher long-term inflation and monetary policy uncertainty as a result.
Market measures of long-term inflation expectations also ticked up, with 10-year break-even rates reaching 2.3 per cent for the first time since November.
We’ve been here before — political pressure on the Fed means a lower US dollar, higher long-end US Treasury yields and higher inflation expectations,” said Mike Riddell, a fund manager at Fidelity International.
But the scale of the market moves was relatively small, with many investors backing rate setters to remain independent.
“My expectation again is that the committee will continue to make decisions on the back of their mandate and the economic data,” Jan Hatzius, chief economist at Goldman Sachs, told a conference in London.
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شهد العالم في السنوات الأخيرة انتشارًا واسعًا للعملات الرقمية مثل البيتكوين والإيثريوم، مما أثار جدلًا عالميًا حول فوائدها ومخاطرها. ورغم تبني بعض الدول لهذه العملات ودعمها، فإن العديد من الدول لا تزال ترفض استخدامها أو تفرض قيودًا صارمة عليها. تتعدد أسباب هذا الرفض لتشمل جوانب اقتصادية وأمنية وقانونية.

1. مخاطر غسيل الأموال وتمويل الإرهاب

تُعد العملات الرقمية وسيلة فعالة لإخفاء الهوية عند تنفيذ المعاملات، مما يجعلها بيئة خصبة لغسيل الأموال وتمويل الأنشطة غير المشروعة مثل الإرهاب وتجارة المخدرات. هذه المخاوف دفعت العديد من الحكومات إلى فرض قيود صارمة أو حظر التعامل بهذه العملات.

2. فقدان السيطرة على السياسة النقدية

تتحكم البنوك المركزية في الأنظمة المالية عبر إصدار العملات وتنظيم السياسات النقدية لضبط معدلات التضخم وأسعار الفائدة. ومع انتشار العملات الرقمية، قد تفقد هذه المؤسسات جزءًا من سلطتها على الاقتصاد، ما يشكل تهديدًا للاستقرار الاقتصادي.

3. تقلبات الأسعار والمخاطر الاقتصادية

تعاني العملات الرقمية من تقلبات حادة في قيمتها، مما يجعلها استثمارًا عالي المخاطر. هذا التقلب قد يؤدي إلى خسائر مالية كبيرة للمستثمرين، ويؤثر سلبًا على الأسواق المالية المحلية، خاصة في الدول ذات الاقتصادات الهشة.

4. عدم وجود إطار قانوني واضح

لا تزال العديد من الدول تفتقر إلى تشريعات واضحة تنظم التعامل بالعملات الرقمية. هذا الغموض القانوني يخلق بيئة غير آمنة للمستثمرين ويصعّب على الحكومات فرض الضرائب أو حماية المستهلكين من الاحتيال المالي.

5. تهديد الأمن السيبراني

تُعد منصات تداول العملات الرقمية هدفًا رئيسيًا للهجمات الإلكترونية والقرصنة. هذه المخاطر تشكل تحديًا كبيرًا للدول في حماية أمنها المالي والبيانات الشخصية لمواطنيها.

6. المخاوف البيئية

تستهلك عمليات تعدين العملات الرقمية كميات هائلة من الطاقة الكهربائية، مما يرفع من معدلات انبعاثات الكربون ويؤثر سلبًا على البيئة. بعض الدول التي تعاني من أزمات طاقة أو تسعى لتحقيق أهداف بيئية صارمة ترى في العملات الرقمية تهديدًا مباشرًا لمواردها الطبيعية.

خلاصة

رغم الفوائد المحتملة للعملات الرقمية مثل تسريع المعاملات المالية وزيادة الشمول المالي، فإن المخاطر المرتبطة بها تجعل العديد من الدول تتردد أو ترفض التعامل معها. وبينما تستمر بعض الدول في دراسة إمكانية تنظيم هذه العملات بشكل آمن، قد تظل الدول الأخرى متمسكة بحظرها لحماية استقرارها الاقتصادي والأمني#crypto #UDST #BNB_Market_Update