Gold rises amid expectations of US monetary easing

05/08/2025 Argaam
Gold bars

Gold bars

Gold prices edged higher at Tuesday’s close, supported by expectations that the Federal Reserve will ease borrowing costs in its September meeting amid signs of weakening momentum in the labor market.

 

December gold futures rose 0.24%, or $8.3, to settle at $3,434.7 per ounce.

 

Market expectations of two interest rate cuts this year, starting with the September meeting, followed weaker-than-expected US employment data released last week.

 

Investor uncertainty deepened after US President Donald Trump fired the head of the Labor Department’s Bureau of Labor Statistics, accusing her of manipulating data, which further supported gold prices.

 

Meanwhile, trade tensions escalated after Trump announced plans to impose tariffs as high as 250% on imported pharmaceuticals.

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