03.09.202501:19:52UTC+00Gold Steady at Record Highs

Gold prices remained steady above $3,530 per ounce on Wednesday, maintaining record highs. This trend is reinforced by expectations of potential US monetary easing and a shift toward safer investments amidst a backdrop of political and economic uncertainties. Investors are anticipating a possible interest rate cut from the Federal Reserve later this month, following a cautious indication from Chair Jerome Powell. Attention is now focused on the significant US employment report due on Friday, which may provide further insights into the probability of easing measures in September. Concurrently, President Trump's ongoing disputes with the Federal Reserve, including recent moves involving Governor Lisa Cook, have sparked concerns regarding the central bank’s independence. Additionally, gold has seen increased demand owing to uncertainties surrounding tariffs, exacerbated by Trump's intent to seek a rapid Supreme Court decision to reverse a federal court's ruling that many of his tariffs are unlawful. Furthermore, efforts to diversify away from reliance on the US dollar, combined with broader fiscal concerns affecting stock and bond markets, have strengthened the demand for safe-haven assets such as gold.