Gold price recovered some ground late during Wednesday’s North American session.
Gold halts losses despite US CPI jumping above 3% in January. Traders slash Fed rate-cut bets to just 30 bps for 2025. US Dollar erases gains after Powell and Fed officials stay hawkish. Federal Reserve Chair Jerome Powell said that policy needs to remain restrictive as inflationary pressures mount and United States President Donald Trump's tariff threats intensify. XAU/USD trades at $2,897, virtually unchanged.
Money market fed funds rate futures are pricing in 30 basis points of easing by the Federal Reserve in 2025. XAU/USD technical outlook: Gold price hovers around $2,900 Price action hints that Gold’s is poised for further gains after printing ‘back-to-back’ pin bars, an indication of some indecision. Although US CPI data was hot, XAU/USD was not set for a volatile reaction following Tuesday’s trading day, in which Gold hit a record-high of $2,942 before plunging below $2,900.
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Gold Dips as Powell Signals Pause on Rate CutsGold prices slightly declined following Federal Reserve Chair Jerome Powell's statement that the central bank will not rush to lower US interest rates. Powell emphasized the need to observe further progress on inflation before easing monetary policy. Despite the dip, gold remained near its all-time high, trading around $2,760 an ounce. Traders adjusted their expectations for rate cuts this year, anticipating 43 basis points compared to the previous 48.
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