Gold Prices Recover as DoJ Concludes Investigation into Fed Chair Powell

Gold and silver futures trended upward during Friday's session as legal uncertainty surrounding the leadership of the U.S. Federal Reserve dissipated. The rally followed an announcement from the Department of Justice that it has officially ended its criminal investigation into outgoing Fed Chair Jerome Powell. The conclusion of the probe removes a significant cloud of instability over the central bank, providing the market with a clearer trajectory for the transition of power. With the legal hurdles removed, the path is now open for Kevin Warsh to step in as Powell's successor. While the news provided a late-week boost to precious metals, the gains were not enough to offset broader weekly losses. Gold remains lower on a weekly basis despite the Friday uptick. Traders typically view gold as a safe-haven asset during periods of institutional instability. The resolution of the DoJ probe reduces systemic risk, though the shift in leadership to Kevin Warsh may introduce new expectations regarding future monetary policy and interest rate trajectories.