“The gold move thing — things have gotten a little unruly in China,” Bessent said on Fox News’ . Bessent was responding to a question about a record-breaking rally in precious metals — fueled by speculative buying, geopolitical turmoil and concern about the Federal Reserve’s independence — that abruptly reversed last week. With midterm elections coming in November, Bessent cited the Dow Jones record as evidence the US economy is headed for an upward cycle that will benefit ordinary Americans.