Gold prices have hit an all-time high of 3,444 U.S. dollars per ounce in early Asian trading on Monday amid concerns over U.S. President Donald Trump's potential dismissal of Federal Reserve Chairman Jerome Powell, according to Bloomberg's report. After Trump's vocal attacks on Powell, investors were prompted to sell off U.S. stocks, bonds, and the U.S. dollar which increases demand for the safe-haven asset. Recently, Trump has pressured the Fed to cut interest rates. Throughout his first term, he frequently criticized the Fed and Chairman Powell publicly, urging for rate reductions. Since the beginning of his second term, Trump has repeatedly applied pressure on Powell, demanding immediate rate cuts. On April 17, Trump once again urged Powell to lower rates without delay. Trump also remarked that Powell's actions are always "too slow and wrong," noting that the Fed chief should have cut rates sooner, like the European Central Bank, and emphasized the need for immediate action. Furthermore, Trump indicated that Powell should leave the post, and these vocal threats to dismiss Powell have unsettled the markets. In response, Powell stated that the Fed will not yield to political pressure. In light of the complex economic situation arising from the recent tariff policies of the Trump administration, Powell emphasized that the Fed will focus on combating inflation. SHOTLIST: FILE: Washington D.C., USA - May 4, 2022 1. Various of U.S. Federal Reserve building; FILE: Washington D.C., USA - Oct 2024 2. Various of White House, U.S. national flag; 3. Various of Capitol building; FILE: Philadelphia, USA - Oct 2024 4. U.S. national flag; FILE: New York City, USA - Oct 2024 5. Various of buildings, pedestrians, traffic; FILE: Location and Date Unknown 6. Various of gold bars being sorted, on table; 7. Various of gold bars being sorted; FILE: Tokyo, Japan - July 12-14, 2024 8. Various of bullion; bullion with "999.9, fine gold, 250,000g" engraved on it; FILE: Zhaoyuan County, Yantai City, Shandong Province, east China - September 2022 9. Various of gold bars in save box. [Restrictions: No access Chinese mainland]