04.09.202501:41:38UTC+00Gold Holds at Record Levels

Gold prices slipped to approximately $3,540 per ounce on Thursday, pausing after its longest winning streak since March. However, the precious metal still hovers at record highs due to heightened safe-haven demand and expectations of monetary easing in the United States. On Wednesday, the Trump administration filed an appeal against a court decision that invalidated much of the global tariffs he had imposed, potentially leading to a Supreme Court confrontation. This development adds to existing uncertainties, including concerns over the Federal Reserve's independence and prevailing debt issues, factors that continue to bolster gold prices. July figures revealed a more significant-than-anticipated decrease in U.S. job openings, indicating a weakening labor market, which further fuels speculation of a potential interest rate cut in September. Investors are now focusing on upcoming U.S. jobless claims, ADP employment statistics, and Friday's nonfarm payroll report for additional insights into economic momentum and the Federal Reserve's policy direction. Year-to-date, gold has surged approximately 40%, with analysts forecasting that the rally is likely to continue.