Gold Rebounds to Fresh Highs as Powell Asserts Fed Independence

The Independence Trade

While higher-for-longer rates typically weigh on gold, investors are prioritizing the stability of the asset. The confirmation that the Fed is actively battling for its autonomy has stoked fears of a prolonged period of institutional friction, driving continued safe-haven flows.

Technical Breakout

Having defended the $5,050 support level during the Fed announcement, gold has technically broken out again. The path of least resistance remains higher, with traders eyeing $5,150 as the next intraday target.