The price of gold drops with Trump's calm toward the controversy over the fate of Powell in the federal

The price of gold fell slightly on Wednesday after a volatile session, as clients have expectations for the future of Jerome Powell as head of the Federal Reserve, in light of the increasing speculation of the possibility of his dismissal by US President Donald Trump. The price of gold stabilized nearly $ 3330 per ounce, after it rose 0.7% in the previous session, after statements to an official in the White House in which he suggested that Trump would fired federal president. But the US president returned to declare later that he “does not intend to take any action” against Powell, which temporarily calms the market issue. However, the fear of Powell is in place, the fear of political intervention still exists. As Powell’s dismissal would raise questions before the end of his term in 2026 about the independence of the Federal Reserve, which increases the attraction of gold as a safe haven. It is noteworthy that the precious metal has increased by about 30% since the beginning of the year, supported by commercial and geopolitical tension, as well as strong flow to circulating indicators and purchases by central banks. The immediate gold price dropped 0.5% to $ 3331.34 per ounce at 16:26 in Singapore. The Bloomberg index for immediate dollars increased by 0.3%. The platinum and Albadium also decreased after increasing by more than 3% in the previous session. * Prices have been updated in the case to reflect the reality of the market