The main reasons for the rise of gold today and future expectations

The price of gold rose towards the levels of 3,385 dollars per ounce on Thursday, making up for the losses of the previous session, to now trade near its highest level in two weeks, as renewed US threats to impose tariffs and expectations of a loose monetary policy strengthened the attractiveness of non-interest-generating gold.

Expectations are that gold will continue to climb to target the levels of 3,410 and then 3435 dollars per ounce near the main peaks.

Trump and tariffs

President Trump announced the imposition of 100% tariffs on imported semiconductors and chips, with the exception of manufacturers within the United States.

He also confirmed that Indian imports would face additional tariffs of 25%, while also raising tariffs on selected Brazilian goods to 50%.

US data and the independence of the Fed Disappointing

US economic data and indicators of a slowdown in the labor market also strengthened expectations of a September interest rate cut, with a possible further cut in December.

President Trump is expected to nominate a successor to outgoing Fed chairwoman Adriana Kugler by the end of the week.

He also revealed that there are four final candidates under consideration to replace Fed Chairman Jerome Powell, renewing concerns about the independence of the central bank.