Golden Finance reports that spot gold prices are consolidating in Asia. U.S. President Trump stated on Thursday that he will nominate White House Council of Economic Advisers Chairman Milan to temporarily serve as a member of the Federal Reserve Board to fill the vacancy. Analysts at ANZ Bank said in a report: “Milan is the architect of Trump’s tariff policy, and the market believes this appointment means that monetary policy will become more dovish.” Increased expectations for more Federal Reserve rate cuts may enhance the appeal of gold. Additionally, reports indicate that the U.S. is imposing import tariffs on one-kilogram gold bars, which is the most common trading specification in the global largest gold futures market, Comex, leading the market to believe this move will result in U.S. gold demand being hard to meet. Spot gold is currently basically flat, with New York futures gold initially touching a historic high of $3534.10 per ounce in Asian trading, and is currently trading around $3500 per ounce. (Jin Shi)