Governor of the Federal Reserve Adriana Kugler noted that recruitment is still above the Breakeven point, although uncertainty remains a challenge for the economy. Nevertheless, she emphasized that wages are not a major inflation driver. In response to economic circumstances, FED chairman Jerome Powell stated that the central bank was not in a hurry to lower interest rates. He acknowledged that the path to 2% inflation can be bumpy and that the Fed does not respond overly to isolated data points.
On the other hand, central banks continue to buy gold as a cover against economic uncertainty. The People’s Bank of China (PBOC) increased its gold possession with 10 tons in the first two months of 2025. However, the largest buyer was the National Bank of Poland, which bought 29 tons of gold, the largest purchase since June 2019.
Golden (XAU) Technical analysis
Gold Daily Chart – Price consolidation
The daily graph for gold shows that the price consolidates in the orange zone and shows signs of strength. The rebound from the center of the rising channel was executed from the center of the RSI, which indicates strength. The most important support remains $ 2,800. A break above $ 2,950 will open the door for the $ 3,000 level.