Gold rose toward $3,380 per ounce on Thursday, recouping losses from the previous session to trade at a two-week high, as renewed US tariff threats and expectations of dovish monetary policy boosted the appeal of non-interest-bearing bullion. President Trump announced a 100% tariff on imported semiconductors and chips, excluding companies that manufacture within the US. He also confirmed that Indian imports will face an additional 25% tariff, while duties on select Brazilian goods were raised to 50%. Meanwhile, disappointing US economic data and signs of a cooling labor market have reinforced expectations of a rate cut in September, with a second likely in December. At the same time, President Trump is expected to nominate a successor for outgoing Fed Governor Adriana Kugler by week’s end. He also disclosed that four finalists are under consideration to replace Fed Chair Jerome Powell, renewing concerns over the central bank’s independence.