Investing.com - Gold prices were largely unchanged on Wednesday in Asia as traders awaited to see whether the Trump administration would proceed with even more punitive tariffs on China by the end of this week.
Gold Futures for February delivery on New York’s COMEX last traded at $1,467.75 by 12:15 AM ET (04:15 GMT), down 0.02%.
The safe-haven gold received some support overnight after White House economic advisor Larry Kudlow, speaking at a Wall Street Journal conference, said President Donald Trump was likely to proceed with new tariffs against China by Sunday.
“The reality is those tariffs are still on the table, the Dec. 15 tariffs, and the president has indicated if the short strokes remaining in negotiations do not pan out to his liking, (then) those tariffs could go back into place,” Kudlow told the conference, CNBC reported.
“There is no definitive decision on that yet,” Kudlow, director of the National Economic Council, added.
His comments came after the Wall Street Journal reported that U.S. is considering delaying imposing the 15% tariffs on about $160 billion in Chinese goods. The tariffs were previously set to take effect on Dec. 15.
The upcoming Federal Reserve policy statement is also in focus. The Fed will issue the statement of its December policy meeting later in the day.
While the central bank is not expected to make changes to the rate, investors are eager to hear its outlook for the economy.