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Federal Reserve's Monetary Policy May Become More Dovish, Gold Hits Historic High in Asian Trading
Summary: According to sources, spot gold prices were steady in Asian trading as US President Trump announced on Thursday the nomination of White House economic adviser Moore to temporarily serve as a member of the Federal Reserve Board to fill a vacancy. Analysts at ANZ Bank stated in a report that Moore, the architect of Trump's ...
According to sources, spot gold prices were steady in Asian trading as US President Trump announced on Thursday the nomination of White House economic adviser Moore to temporarily serve as a member of the Federal Reserve Board to fill a vacancy. Analysts at ANZ Bank stated in a report that Moore, the architect of Trump's tariff policy, is seen by the market as a sign that monetary policy will become more dovish. Expectations of further rate cuts by the Federal Reserve could increase the attractiveness of gold. Additionally, reports indicate that the US has imposed import tariffs on one kilogram gold bars, the most common trading specification on the global gold futures market Comex, which could lead to difficulties in meeting US gold demand. Spot gold is currently stable, with New York gold futures hitting a historic high of $3534.10 per ounce in early Asian trading and currently trading around $3500 per ounce.
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Link: Federal Reserve's Monetary Policy May Become More Dovish, Gold Hits Historic High in Asian Trading [Copy]
