Gold prices rose 1.3%, hitting a daily high, with reports suggesting that Trump may immediately dismiss Powell, who will be "interviewed" on Wednesday

Wallstreetcn
2025.07.16 15:25

Spot gold short-term rose from around $3,325 to above $3,370, refreshing the daily high, with an overall increase of 1.3% for the day.

The USD/JPY fell over 1%, refreshing the daily low to 147.02 yen.

The S&P 500 index fell 0.2%, and the Nasdaq 100 index fell 0.6%, both refreshing the daily low, while the Philadelphia Bank Index fell 1%; the European STOXX 600 index fell 0.6%, refreshing the daily low.

Reports indicate that late on July 15, those participating in the meeting between U.S. President Trump and Republican lawmakers expressed support for Trump's removal of Powell.

Anna Paulina Luna from Florida stated that the confidence in Trump immediately dismissing Powell reached 99%.

Some members of the House Financial Services Committee plan to meet with Powell late on July 16. Some lawmakers hope to strengthen the independence of Powell's position

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