Express News | Trump Promises Reciprocal Tariffs on Canadian Lumber, Dairy Exports, Bloomberg Reports
Powell Says Fed Can 'Wait for Greater Clarity' on Economic Outlook
World Gold Council: Will the tariffs from the USA affect the gold market?
In the future, the Gold market may still experience temporary fluctuations. However, there are indications that over time, the depth and liquidity of the Gold market are sufficient to withstand most shocks.
By the end of February, both the scale of foreign reserves and Gold reserves have slightly increased. With high gold prices, experts remind to weigh profits against risks.
① As of the end of February, China's Forex reserves amounted to 3,227.2 billion USD, an increase of 18.2 billion USD compared to the end of January. The decline in the USD roughly drove the rise in the prices of non-USD assets in China's foreign reserves by about 10 billion USD; ② At the end of February, the People's Bank of China held 73.61 million ounces of Gold, an increase of 0.16 million ounces compared to the end of January.
In February, China's Forex reserves increased, and the central bank expanded its Gold reserves for four consecutive months.
As of the end of February, China's Gold reserves were 73.61 million ounces, an increase from 73.45 million ounces at the end of January, showing a growth of 0.22%. As of the end of February 2025, China's Forex reserves stood at $3227.2 billion, an increase of $18.2 billion from the end of January, representing a growth of 0.57%.
Technical analysis of spot Gold on March 7.
On Friday (March 7), during the European trading session, spot Gold maintained a range fluctuation, currently trading around $2910. In the short term, the market is waiting for the direction choice after the release of the USA non-farm data. From the data expectations, this non-farm data is unfavorable for the USD, lower than previous values, supporting Gold prices, while the Federal Reserve's interest rate cut expectations have once again diverged. However, against the backdrop of a significant decline in the USD, Gold prices have not broken through the previous highs. If repeated consolidation cannot break through the box pressure, there may be a need for a second retest, and the possibility of another decline cannot be ruled out. In the short term, the focus is on the direction choice after the non-farm data release, paying attention to Federal Reserve Chairman Powell's speech.
