According to Deep Tide TechFlow, on September 1, gold prices approached $3460 per ounce, rising 2.3% last week. Traders are weighing the Federal Reserve's future path and the uncertainty surrounding Trump's tariffs ahead of the U.S. employment data release.
The hearing for Trump's dismissal of Federal Reserve Board member Lisa Cook has concluded, with a ruling expected on Tuesday. This decision may affect the independence of the Federal Reserve and could boost demand for safe-haven assets like gold.
The U.S. Court of Appeals ruled that Trump's global tariffs are illegal but allowed the tariffs to continue during the appeal process, with the scope of future injunctions potentially narrowing.