Gold price (XAU/USD) is displaying volatility contraction as investors are shifting their focus to US Purchase Managers Index (PMI) figures after the testimony from Federal Reserve (Fed) chair Jerome Powell. The commentary from Fed Powell remained in line with the expectations of the market. Fed Powell is in favor of maintaining the status quo as bringing price stability to the economy is their supreme motive. The economy is facing the headwinds of runaway inflation, however, the economy is much solid to bear the consequences of the price pressures. The labor market is really tight and is providing support to the Fed ... (full story)