Gold surges to record high as Trump threats to fire Fed chief

Gold prices have hit an all-time high of 3,444 U.S. dollars per ounce in early Asian trading on Monday amid concerns over U.S. President Donald Trump's potential dismissal of Federal Reserve Chairman Jerome Powell, according to Bloomberg's report.

After Trump's vocal attacks on Powell, investors were prompted to sell off U.S. stocks, bonds, and the U.S. dollar which increases demand for the safe-haven asset.

Recently, Trump has pressured the Fed to cut interest rates. Throughout his first term, he frequently criticized the Fed and Chairman Powell publicly, urging for rate reductions.

Since the beginning of his second term, Trump has repeatedly applied pressure on Powell, demanding immediate rate cuts. On April 17, Trump once again urged Powell to lower rates without delay.

Trump also remarked that Powell's actions are always "too slow and wrong," noting that the Fed chief should have cut rates sooner, like the European Central Bank, and emphasized the need for immediate action.

Furthermore, Trump indicated that Powell should leave the post, and these vocal threats to dismiss Powell have unsettled the markets.

In response, Powell stated that the Fed will not yield to political pressure. In light of the complex economic situation arising from the recent tariff policies of the Trump administration, Powell emphasized that the Fed will focus on combating inflation.

Gold surges to record high as Trump threats to fire Fed chief

Gold surges to record high as Trump threats to fire Fed chief

Gold surges to record high as Trump threats to fire Fed chief

Iran is not only ready for talks with the U.S. on the basis of mutual respect, but also fully prepared for war, said Iranian Foreign Minister Seyed Abbas Araghchi on Monday.

Araghchi accused the U.S. and Israel of playing a direct role in recent unrest across Iran. He said the Iranian government has obtained evidence showing that the recent disturbances, including attacking police stations and burning public facilities, were carried out by "terrorists" backed by the U.S. and Israel.

The Iranian government announced a three-day nationwide mourning period from Monday to honor police officers, security personnel, and civilians killed during the disturbances.

According to Iran's semi-official Tasnim news agency, at least 111 members of Iran's security forces have been killed in the unrest over the past two weeks. Iranian authorities have not released official casualty figures for protesters.

At midday on Monday, Iranians remained largely without internet access, according to on-the-ground reporting by a China Media Group (CM) journalist, who also said domestic phone services have not been disrupted in Iran over the past 24 hours.

Security has been reinforced across Tehran, with police increasing patrols in key locations and blocks.

Despite heightened security measures, traffic conditions in Tehran were reported to be normal.

Iran ready for talks with US based on mutual respect: FM