The Fed's monetary policy may become more dovish, and gold briefly hit a new historical high in the early Asian market.

[The Federal Reserve's monetary policy may become more dovish, and in the early Asian market, gold briefly hit a new historical high] Spot gold prices are consolidating in Asia. U.S. President Trump announced on Thursday that he would nominate White House Council of Economic Advisers Chair Kevin Hassett to fill a vacancy on the Federal Reserve Board of Governors. Analysts at ANZ Bank stated in a report: "Hassett is the architect of Trump's tariff policy, and the market believes this appointment signifies a more dovish monetary policy." Increased expectations for more Fed rate cuts may enhance gold's attractiveness. Additionally, reports indicate that the U.S. will impose import tariffs on a kilogram of gold bars, which is the most common trading specification in the world's largest gold futures market, Comex. The market suggests this move will lead to difficulties in meeting U.S. gold demand. Spot gold is currently basically flat, and New York gold futures briefly touched a historical high of $3534.10 per ounce in the early Asian market, currently trading around $3500 per ounce. ( Jin10 )