Spot gold rose nearly 1% to 3,479.53/oz as traders weighed the future of the Federal Reserve and uncertainty around US President Donald Trump ’ s tariffs ahead of key US jobs data due later this week.

An emergency hearing on Trump ’ s move to fire Fed Governor Lisa Cook concluded without a decision on Friday, and a ruling on whether she can continue her duties is not expected to arrive before at least Tuesday.

The decision is likely to determine the future of the Fed, with worries over a less independent monetary authority set to erode investor confidence in the US — a scenario that could boost demand for haven assets such as gold. The judge didn ’ t indicate which way she is leaning in the landmark lawsuit.

Separately, a federal appeals court ruled that the US president ’ s global tariffs were illegally imposed under an emergency law, upholding a May ruling by the Court of International Trade. But the judges let the levies stay in place while the case proceeds, suggesting that any injunction could be narrowed.

Gold spiked to a record around $3,500 an ounce in April after Trump unveiled an initial plan to introduce his tariffs. Since then, bullion has remained largely range bound, with haven demand cooling as the president walked back some of his most aggressive trade proposals. Still, inflows to exchange-traded funds have helped to underpin long-term support for the precious metal.

This week, investors will be focusing on a key jobs report, which will either validate or upend wagers that the Fed will resume policy easing this month. Economists surveyed by Bloomberg expect Friday ’ s release to show the US economy added 75,000 jobs in August, with the unemployment rate ticking higher — adding to evidence of a more subdued labor market.

US data last Friday showed stubborn inflation, though in line with expectations. San Francisco ’ s Fed President Mary Daly suggested policymakers will be ready to lower interest rates soon, adding that inflation stemming from tariffs will likely prove temporary. Traders see high odds of a September cut. Lower borrowing costs tend to benefit non-yielding gold.