You will have been aware of the news over the past few days regarding the Department of Justice investigation into Federal Reserve Chair Jerome Powell.
Gold has moved decisively higher, setting new all-time highs above $4,600 per ounce. According to the World Gold Council, this move is not yet technically extreme, and importantly, it reflects a broader repricing of risk rather than short-term speculation. When geopolitical and institutional shocks become more frequent, they cease to be episodic and begin to embed a higher risk premium. That is the environment gold tends to respond to.
The WGC explicitly noted that the investigation into the Fed provided a further boost to gold’s latest advance, reinforcing the case for gold as a strategic allocation in an increasingly uncertain monetary and political landscape.
This matters because the significance of the Powell investigation does not rest on its legal outcome, nor on Powell himself. It rests on what it signals about institutional boundaries.
Central bank independence is not merely a legal condition. It functions because political actors historically exercised restraint. Once that restraint weakens, behaviour changes long before laws do. Monetary policy decisions become subject to political risk, and independence becomes conditional rather than assumed.
In today’s GoldCore TV video, we place this episode within a wider framework:
• Why pressure on the Federal Reserve increasingly reflects fiscal arithmetic rather than economic necessity
• How administrative measures are being used to influence financial conditions outside formal monetary policy
• Why bond markets are demanding higher compensation for long-dated U.S. debt
• How foreign central banks are responding through reserve diversification and increased gold holdings
• Why the recent move in gold and silver is better understood as institutional hedging rather than enthusiasm
The World Gold Council’s technical work supports this interpretation. Despite record prices, positioning is not yet extreme, and the broader uptrend remains intact. That is consistent with a market adjusting expectations rather than reacting emotionally.
This is not about imminent crisis or abrupt loss of confidence. Structural transitions rarely unfold that way. They emerge gradually, through incremental changes in incentives, credibility, and institutional trust.
That is what we discuss in this video.
GoldCore TV exists to examine these shifts as they happen. Real people, discussing real assets, offering real opinions grounded in observable events rather than political theatre.
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