Gold consolidated early in the Asian session. President Trump said on Thursday that he would nominate Stephen Miran, head of the White House Council of Economic Advisers, to fill a short-term vacancy on the Fed's Board of Governors. Miran will replace Fed Governor Adriana Kugler, who decided to step down about six months before her term ends.
"Miran was the architect of Trump's tariff policy, with the market viewing the appointment as a tilt toward a more dovish monetary policy," ANZ Research analysts said in a note. The prospect of further Fed rate cuts could boost the appeal of the non-interest-bearing precious metal. Spot gold was little changed at $3,400.26/oz.
Source: Dow Jones Newswires
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