The violent protests in Iran are also spilling over into markets, increasing demand among investors for what are perceived as safer investments - such as precious metals.
The price of gold on the global market rose to $4,600 per ounce (31.1 grams) after news overnight of a potential lawsuit against the Fed, while silver touched record highs around $85 per ounce.
After the peak prices, the prices of the precious metals fell back slightly. At 8:00 local time in Sweden, gold traded at $4,574 per ounce and silver at $84.24 per ounce.
Underlying drivers behind the recent price increases in gold and silver - up 65 percent and almost 150 percent respectively in 2025 - include expectations of interest-rate cuts in the US and reduced global confidence in the dollar as a reserve currency, which are causing central banks to replenish their reserves with gold.
