According to CoinVoice's latest news, the spot gold price is consolidating in Asia. U.S. President Trump stated on Thursday that he will nominate the chairman of the White House Council of Economic Advisers, Milan, to temporarily serve as a member of the Federal Reserve Board to fill the vacancy. Analysts at ANZ Bank stated in a report: "Milan is the architect of Trump's tariff policy, and the market believes that this appointment means that monetary policy will become more dovish." Increased expectations for more Federal Reserve rate cuts may enhance the appeal of gold.
In addition, it has recently been reported that the United States imposes import tariffs on one kilogram of gold bars, while the one kilogram gold bar is the most common trading specification in the global largest gold futures market, Comex. The market indicates that this move will make it difficult to meet the demand for gold in the United States. Spot gold is currently basically flat, and New York futures gold initially touched a historic high of $3534.10 per ounce, currently trading around $3500 per ounce. [Original link]