27.08.202502:14:18UTC+00Gold Hovers Near Two-Week High

Gold prices dipped slightly to approximately $3,380 per ounce on Wednesday, yet maintained proximity to a two-week high due to its status as a safe investment amidst ongoing concerns about the independence of the Federal Reserve. President Trump's initiative to dismiss Governor Lisa Cook over alleged misconduct has sparked fears regarding the Fed's autonomy and susceptibility to political influence. Analysts warn that Cook's removal could hasten interest rate reductions, aligning with Trump's advocacy for a more lenient monetary policy. The market is currently estimating an 80% likelihood of a quarter-point rate cut in September.

In trade developments, a U.S. official indicated that an agreement with India is unlikely before the set deadline, potentially resulting in the doubling of tariffs on Indian goods to 50%. Conversely, Indonesia has achieved exemptions on specific commodities. Additionally, Trump has threatened significant tariffs on China in response to rare-earth exports, further exacerbating tensions between the two leading nations. In Europe, political risks are intensifying as France's prime minister continues to push forward with an austerity program ahead of a crucial confidence vote.