Gold Fundamentals and News:
• Investor concerns: Fears of a global trade war from Trump’s tariffs boost demand for gold.
• USD selling: Fresh USD selling supports gold in the Asian session on Tuesday.
• Fed rate cuts:
o Market expects the Fed to cut rates soon due to economic concerns from Trump’s trade policies.
o Trump urges rate cuts, citing a strong US economy.
• Fed comments:
o Fed Governor Kugler focuses on inflation control, with short-term inflation up but long-term stable.
o Fed President Goolsbee warns of trade war risks but doesn’t affect rate-cut expectations.
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