Gold maintained its position on Thursday, remaining close to the all-time high reached in the prior session, supported by global uncertainties and in light of comments from several Fed officials who indicated that concerns regarding the labor market continue to shape their expectation of forthcoming rate cuts.  Fed Governor Christopher Waller expressed his belief that the central bank ought to implement cuts at its forthcoming meeting.

Atlanta Fed President Raphael Bostic reaffirmed his perspective that a rate cut is forthcoming, though he did not specify the timeline for such an action.  Traders are currently assigning a 97% probability to a 25-basis-point rate cut at the conclusion of the U.S. Federal Reserve’s two-day policy meeting on September 17, an increase from 92% prior to the data. Gold, which does not yield interest, tends to exhibit strong performance in an environment characterized by low interest rates. The attention is now directed towards the U.S. non-farm payrolls data scheduled for release on Friday. The August non-farm payrolls are projected to increase by 78,000 jobs, as indicated by a Reuters poll, compared to a growth of 73,000 in July.

President Donald Trump indicated on Wednesday that the United States may need to “unwind” trade agreements established with the European Union, Japan, and South Korea, among others, should it lose a Supreme Court case concerning tariffs. He cautioned that such a loss would result in significant suffering for the U.S., spot silver remained unchanged at $41.19 per ounce. Platinum increased by 0.2% to $1,423.63, while palladium decreased by 0.6% to $1,140.50.