WASHINGTON (dpa-AFX) - Gold edged up slightly on Thursday while the dollar struggled to make headway against major peers as investors bet on a near-term Federal Reserve interest-rate cut.
Spot gold was up 0.1 percent at $3,400.49 per ounce in European trade, while U.S. gold futures were up 0.2 percent at 3,455.52.
The U.S. dollar was little changed amid mounting concerns over the independence of the Federal Reserve, following President Donald Trump's threats to dismiss Fed governor Lisa Cook.
Global trade tensions and geopolitical uncertainties also helped support demand for gold as a safe-haven asset.
As economic worries mount, a Federal Reserve official has suggested that 'every meeting is live' for potential rate cuts, and the question is how restrictive interest rates need to be.
Fed's Williams stated in an interview with CNBC on Wednesday that interest rates could potentially be lowered at some point, but upcoming data would be crucial for determining whether it's appropriate to make a cut at the September 16-17 meeting.
In economic releases, U.S. reports on weekly jobless claims and pending home sales along with a revised reading on second quarter GDP could be in the spotlight in New York session ahead of Friday's data on July PCE inflation-the Fed's preferred measure of inflation.
Friday's report may show an uptick in the annual rate of core consumer price growth to 2.9 percent in July from 2.8 percent in June.
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