Coin World reported that spot gold prices are consolidating in Asia. U.S. President Trump announced on Thursday that he will nominate White House Economic Council Chair Milan to temporarily serve as a member of the Federal Reserve Board to fill a vacancy. Analysts at ANZ Bank stated in a report: 'Milan is the architect of Trump's tariff policy, and the market believes this appointment means monetary policy will become more dovish.' Increased expectations for more Federal Reserve rate cuts may enhance the appeal of gold. Furthermore, reports indicate that the U.S. is imposing import tariffs on one-kilogram gold bars, which are the most common trading specifications in the global largest gold futures market, Comex. The market suggests that this move will lead to difficulties in meeting U.S. gold demand. Spot gold is currently basically flat, with New York futures briefly touching a historical high of $3534.10 per ounce during the Asian session, and current trading is around $3500 per ounce.