WASHINGTON (dpa-AFX) - Gold reached a record high above $3,500 per ounce on Tuesday before surrendering early gains.
Spot gold was marginally higher at $3,477.19 per ounce in European trading, while U.S. gold futures were up 0.9 percent at $3,546 as traders positioned for an interest-rate cut by the Federal Reserve as early as this month.
The dollar wobbled near five-week lows, helping lift demand for the precious metal.
As the legal battle rages over tariffs, Investors now look forward to the latest U.S. jobs numbers, inflation data and the Federal Reserve's rate call for directional cues.
Economists currently estimate that nonfarm payrolls will come in at 74,000 in August, not far from the mark of 73,000 in July.
Questions over the Fed's independence remain, with ECB chief Christine Lagarde warning that if Trump were to undermine the independence of the Federal Reserve, it would represent a 'very serious danger' to the global economy.
Elsewhere in Europe, French Prime Minister Francois Bayrou has declared that the 'fate of France' is on the line in a confidence vote scheduled for September 8, 2025.
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