The Federal Reserve's monetary policy may become more dovish, and during the early Asian trading session, gold briefly reached a new historical high

ChainCatcher news, according to Jinshi Data reports, 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 this appointment means that monetary policy will become more dovish." The expectation of more Federal Reserve rate cuts may enhance the attractiveness of gold.

In addition, it is reported that the U.S. imposes import tariffs on one-kilogram gold bars, which is the most common trading specification in the world's largest gold futures market, Comex. The market claims that this move will make it difficult to meet U.S. gold demand. Spot gold is currently basically flat, and New York's futures gold initially touched a historic high of $3534.10 per ounce during the Asian session, currently trading around $3500 per ounce.