Gold prices soared to new record highs in Asian trading on Monday, lifted by deepening fears over U.S. monetary policy independence and renewed geopolitical risks in Eastern Europe.

🔹 Spot Gold Soars to New All-Time High

• Spot Gold surged 1.4% to $3,374.93/oz at 03:40 ET, after peaking at a fresh all-time high of $3,385.27/oz earlier in the session.

• Gold Futures (June) jumped 1.8% to $3,388.20/oz, reflecting strong investor conviction.

🔹 Fed Independence in Jeopardy?

President Donald Trump's proposal to overhaul the Federal Reserve—and reported attempts to remove Chair Jerome Powell—sent shockwaves through markets.

• White House adviser Kevin Hassett confirmed the administration is "studying" Powell's removal.

• The U.S. Dollar Index fell to a three-year low, boosting gold's appeal for foreign buyers.

A weaker dollar typically enhances gold demand as it lowers the cost of buying bullion in other currencies.

🔹 Geopolitical Risk Back in Focus

Safe-haven buying intensified after Russia launched fresh strikes on Ukraine, following a brief Easter truce announced by President Vladimir Putin.

• The truce lasted only a day, with both Kyiv and Moscow accusing each other of violations.

• The renewed violence revived concerns about sustained conflict, adding further momentum to gold's rally.

🔹 Central Banks and Inflation Keep Tailwinds Strong

Beyond political and geopolitical turmoil, central bank gold demand remains strong in 2025, with ongoing inflation keeping real interest rates low—a historically favorable backdrop for bullion.

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With uncertainty gripping financial markets and geopolitical risks re-escalating, the yellow metal could remain in strong demand, particularly if Fed leadership battles intensify and inflation remains sticky.