Gold Hits Record $4,620 as DOJ Investigation Threatens Fed Independence
Money Moves
No sitting Federal Reserve Chair has ever faced a criminal investigation. On January 9, 2026, Jerome Powell became the first, when the DOJ served grand jury subpoenas over his congressional testimony about a $2.5 billion headquarters renovation. Gold immediately broke $4,600 per ounce, reaching an all-time high of $4,641 on January 14—up 73% in twelve months—as investors priced in the possibility that the world's most important central bank could lose its operational independence.
Updated 3 hours ago