Gold price rebounds after the US Department of Justice completes investigation into Powell

The US Department of Justice has terminated its investigation into outgoing Federal Reserve Chair Jerome Powell, prompting both gold and silver futures prices to rise. This announcement paved the way for Kevin Warsh to succeed Powell, igniting some market optimism that interest rates may be lowered earlier than expected. According to a report from ING's Economic Research Department released in the early session today, even if the investigation into Powell had continued, the market had already leaned toward expecting a modest rate cut by the end of the year. The most actively traded gold futures price rose by 0.5% to $4,748 per ounce, while silver prices climbed by 1.4%, reaching $76.54 per ounce.