TechFlow, September 1 — According to Jinshi Data, gold prices held slightly below record highs as traders weighed the Federal Reserve's future path and uncertainties surrounding U.S. President Trump's tariffs ahead of key U.S. employment data due later this week.
During early Asian trading hours, gold was near $3,460 per ounce, up 2.3% last week. The emergency hearing regarding Trump’s dismissal of Fed Governor Lisa Cook concluded last Friday without a decision, and a ruling on whether she can continue serving is not expected until at least Tuesday.
The outcome could significantly influence the Fed’s future, with concerns that reduced independence may undermine investor confidence in the U.S.—a scenario that could boost demand for safe-haven assets like gold.
Additionally, a U.S. federal appeals court ruled that the president’s use of emergency powers to impose sweeping global tariffs was unlawful, upholding a May decision by the Court of International Trade. However, judges allowed the tariffs to remain in effect during litigation, suggesting any future injunction might be limited in scope.
