Washington: The ounce price of gold reached $3,360 as of 2020GMT, marking a 2.13% increase, amid tensions in the United States related to a resignation within the Federal Reserve and US President Trump's directive to dismiss the expert leading the Labor Department's statistics division.

According to Anadolu Agency, following the Federal Reserve's decision on Wednesday to keep its policy rate unchanged, President Trump intensified his criticism of Fed Chair Jerome Powell, urging the Fed board to "assume control." In a related move, Adriana D. Kugler, a member of the board of the US Federal Reserve, submitted her resignation on Friday. Additionally, two Fed officials released statements explaining their votes to cut interest rates at the meeting earlier in the week.

Simultaneously, President Trump announced on Friday that he had ordered the dismissal of the head of the Labor Department's statistics division. This decision came after the revelation of data showing that job growth had significantly slowed. Trump alleged that the latest job figures from the Bureau of Labor Statistics were "rigged" and influenced by political motives.

The price of gold, which had eased in recent times, previously reached a historical high of over $3,430 in July. In tandem with gold, the price of silver also saw an increase, rising by 0.7% to $37 per ounce on Friday, while US stock markets concluded the week with significant losses.