Daily Trade Ideas

GOLD Price Analysis and Trade Forecast: Daily Trading Signal

By LHFX Technical Analysis
Mar 7, 2025
Gold

Daily Price Outlook

- Gold holds above $2,905.47, maintaining a bullish bias ahead of key U.S. jobs data.

- Breakout above $2,929.94 could push gold toward $2,954.43, reinforcing upside potential.

- Failure to sustain above $2,905.47 may expose gold to downside risk, with key support at $2,884.75 and $2,872.63.

Gold (XAU/USD) is trading at $2,912.07, maintaining a narrow range as investors assess key economic data. The metal remains above its pivot point at $2,905.47, signaling a potential bullish bias.

However, upside momentum faces resistance at $2,929.94, with additional hurdles at $2,942.57 and $2,954.43. A breakout above these levels could open the door for further gains, particularly if economic uncertainty persists.

On the downside, immediate support sits at $2,884.75, with deeper levels at $2,872.63 and $2,858.99. A breach below $2,905.47 could accelerate selling pressure, shifting sentiment toward a more bearish outlook.

The 50-day EMA at $2,904.74 is providing dynamic support, reinforcing the case for buyers in the market. Gold’s ability to hold above this level is crucial for maintaining its upward momentum.

A strong Nonfarm Payrolls (NFP) report on Friday could pressure gold lower, strengthening the U.S. dollar and diminishing gold’s appeal. Conversely, a weaker-than-expected jobs report would likely boost expectations of Federal Reserve rate cuts, supporting gold prices.

Traders should watch for a sustained move above $2,929.94 to confirm further upside potential, while failure to hold above $2,905.47 may lead to a test of lower support levels.

GOLD Price Chart - Source: Tradingview
GOLD Price Chart - Source: Tradingview

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2905

Take Profit – 2925

Stop Loss – 2895

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$2000/ -$1000

Profit & Loss Per Mini Lot = +$200/ -$100

GOLD

Technical Analysis

GOLD Price Analysis – March 07, 2025

By LHFX Technical Analysis
Mar 7, 2025
Gold

Daily Price Outlook

During the European trading session, Gold (XAU/USD) extended its bullish trend and held steady above the $2,900 level. However, the precious metal's rally remained intact as the weakening US Dollar and rising expectations of Federal Reserve rate cuts provided strong support.

Fed’s Dovish Stance and Rate Cut Expectations Weigh on USD, Boosting Gold’s Appeal

On the US front, the broad-based US Dollar lost momentum following dovish comments from Federal Reserve (Fed) official Christopher Waller. He stated that while a March rate cut is unlikely, the Fed is open to reducing rates two or three times this year.

He mentioned that a rate cut in March is unlikely but said the Fed could lower rates two or three times this year. Markets agree with this outlook, expecting the first cut around June. This softer stance put pressure on the USD, helping Gold hold onto its gains.

The Fed remains cautious about the timing of rate cuts, with officials monitoring inflation trends before making policy adjustments. Fed official Christopher Waller said that a strong job market and slowing inflation could support rate cuts in the coming months.

This has boosted demand for Gold since lower interest rates make it more attractive by reducing the cost of holding non-yielding assets like Bullion.

Geopolitical Tensions and Trade Concerns Lift Gold Demand

On the geopolitical front, the tensions between the US and China escalated after Chinese Foreign Minister Wang Yi defended China’s handling of fentanyl exports and accused the US of using the issue to exert pressure. Hence, the rising geopolitical uncertainty bolstered Gold's appeal as a hedge against economic instability.

Moreover, Australia recorded its highest-ever Gold exports to the US in January, totaling A$4.6 billion ($2.9 billion), as traders rushed to deliver metal to New York warehouses amid concerns over potential tariffs.

Therefore, the rising US-China tensions and record Australian Gold exports to the US increased demand for Gold as a safe-haven asset, supporting its price by fueling investor concerns over economic instability and potential trade restrictions.

GOLD Price Chart - Source: Tradingview
GOLD Price Chart - Source: Tradingview

GOLD (XAU/USD) – Technical Analysis

Gold (XAU/USD) is trading at $2,912.07, maintaining a narrow range as investors assess key economic data. The metal remains above its pivot point at $2,905.47, signaling a potential bullish bias.

However, upside momentum faces resistance at $2,929.94, with additional hurdles at $2,942.57 and $2,954.43. A breakout above these levels could open the door for further gains, particularly if economic uncertainty persists.

On the downside, immediate support sits at $2,884.75, with deeper levels at $2,872.63 and $2,858.99. A breach below $2,905.47 could accelerate selling pressure, shifting sentiment toward a more bearish outlook.

The 50-day EMA at $2,904.74 is providing dynamic support, reinforcing the case for buyers in the market. Gold’s ability to hold above this level is crucial for maintaining its upward momentum.

A strong Nonfarm Payrolls (NFP) report on Friday could pressure gold lower, strengthening the U.S. dollar and diminishing gold’s appeal. Conversely, a weaker-than-expected jobs report would likely boost expectations of Federal Reserve rate cuts, supporting gold prices.

Traders should watch for a sustained move above $2,929.94 to confirm further upside potential, while failure to hold above $2,905.47 may lead to a test of lower support levels.

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GOLD

Daily Trade Ideas

GOLD Price Analysis and Trade Forecast: Daily Trading Signal

By LHFX Technical Analysis
Mar 6, 2025
Gold

Daily Price Outlook

- Gold remains bullish above $2,907.49, with upside targets at $2,939.51 and $2,956.29.

- The 50-day EMA at $2,905.09 supports the trend, while a drop below $2,884.56 could shift momentum bearish.

- A breakout above $2,939.51 could trigger a rally toward $2,970.29, contingent on economic data and Fed rate expectations.

Gold (XAU/USD) is trading at $2,921.65, reflecting a cautious but steady bullish bias. The metal remains above its pivot point of $2,907.49, signaling that buyers are maintaining control. The 50-day EMA at $2,905.09 continues to act as a dynamic support level, reinforcing the ongoing uptrend.

Immediate resistance is seen at $2,939.51, a level that gold has struggled to break in recent sessions. If buyers push through this barrier, further gains toward $2,956.29 and $2,970.29 could be on the horizon.

A confirmed breakout above these resistance levels may accelerate momentum, targeting fresh highs as traders assess market sentiment.

On the downside, immediate support is at $2,884.56, with additional safety nets at $2,863.79 and $2,844.79. A break below $2,907.49 would weaken the bullish outlook and shift momentum in favor of sellers, increasing the risk of a pullback toward these support levels.

From a broader perspective, gold remains supported by expectations of a Federal Reserve rate cut and trade-related uncertainties.

Market participants are closely monitoring economic data releases, particularly labor market indicators, which could influence Fed policy expectations.A weaker U.S. dollar and softer job data could provide additional fuel for gold’s next leg higher.

For now, traders should watch for confirmation above $2,939.51 to validate continued upside momentum. Failing to hold above $2,907.49 could signal renewed selling pressure, exposing gold to a deeper correction.

GOLD Price Chart - Source: Tradingview
GOLD Price Chart - Source: Tradingview

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2907

Take Profit – 2939

Stop Loss – 2890

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$3200/ -$1700

Profit & Loss Per Mini Lot = +$320/ -$170

GOLD

Technical Analysis

GOLD Price Analysis – March 06, 2025

By LHFX Technical Analysis
Mar 6, 2025
Gold

Daily Price Outlook

During the European trading session, gold (XAU/USD) lost its bullish momentum and declined to around $2,900, failing to hold near its all-time high of $2,956.

However, the major factor behind this drop was the delay in the implementation of US car tariffs, which improved investor sentiment and reduced safe-haven demand for gold.

Despite some easing in tariffs for Canada and Mexico, the reciprocal trade measures are still set to take effect in April, keeping market uncertainty alive.

This has led to continued safe-haven demand for gold, though the latest developments have capped further gains.

Apart from this, investors are keeping their eyes on the European Central Bank (ECB) interest rate decision, where markets anticipate a 25-basis-point cut.

Meanwhile, European Union leaders are set to discuss a defense spending package and potential further aid to Ukraine, which could influence broader market sentiment.

Weaker US Data and Fed Rate Cut Bets Boost Gold Prices

On the US front, the broad-based US dollar is losing its traction amid slowing economic momentum. This can be witnessed by the weaker US economic data.

The ADP Employment Change report for February showed just 77K new jobs, significantly below the forecast of 140K and January’s 186K, raising concerns about a slowing labor market.

Moreover, the US ISM Manufacturing PMI came in at 50.3, slightly under the expected 50.5 and January’s 50.9, signaling weakening economic activity.

However, S&P Global’s final Manufacturing PMI for February exceeded expectations at 52.7, providing a slight relief. These developments have fueled expectations of multiple Federal Reserve rate cuts in 2025 as the economy shows signs of softening.

Investors are now awaiting Friday’s US Nonfarm Payrolls (NFP) report, which is projected to show a modest recovery in job growth to 160K in February, up from January’s 143K. Any disappointment in the data could further support Fed rate cut bets, potentially influencing gold prices.

Hence, the weaker US economic data and rising Fed rate cut expectations support gold prices by weakening the US dollar and lowering bond yields. Moving on, the disappointing NFP report could further boost gold’s appeal as a safe-haven asset.

GOLD Price Chart - Source: Tradingview
GOLD Price Chart - Source: Tradingview

GOLD (XAU/USD) – Technical Analysis

Gold (XAU/USD) is trading at $2,921.65, reflecting a cautious but steady bullish bias. The metal remains above its pivot point of $2,907.49, signaling that buyers are maintaining control. The 50-day EMA at $2,905.09 continues to act as a dynamic support level, reinforcing the ongoing uptrend.

Immediate resistance is seen at $2,939.51, a level that gold has struggled to break in recent sessions. If buyers push through this barrier, further gains toward $2,956.29 and $2,970.29 could be on the horizon.

A confirmed breakout above these resistance levels may accelerate momentum, targeting fresh highs as traders assess market sentiment.

On the downside, immediate support is at $2,884.56, with additional safety nets at $2,863.79 and $2,844.79. A break below $2,907.49 would weaken the bullish outlook and shift momentum in favor of sellers, increasing the risk of a pullback toward these support levels.

From a broader perspective, gold remains supported by expectations of a Federal Reserve rate cut and trade-related uncertainties.

Market participants are closely monitoring economic data releases, particularly labor market indicators, which could influence Fed policy expectations.A weaker U.S. dollar and softer job data could provide additional fuel for gold’s next leg higher.

For now, traders should watch for confirmation above $2,939.51 to validate continued upside momentum. Failing to hold above $2,907.49 could signal renewed selling pressure, exposing gold to a deeper correction.

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GOLD

Daily Trade Ideas

GOLD Price Analysis and Trade Forecast: Daily Trading Signal

By LHFX Technical Analysis
Mar 5, 2025
Gold

Daily Price Outlook

- Bullish momentum above $2,907 could drive gold toward $2,956 and beyond.

- A break below $2,883 may trigger further downside pressure toward $2,859.

- The 50-day EMA at $2,906.78 acts as a dynamic support level for buyers.

Gold (XAU/USD) is currently trading at $2,915.74, struggling to maintain bullish momentum as it hovers near key support levels. The pivot point at $2,907.49 remains a critical threshold for determining the metal’s short-term trajectory.

The 50-day EMA at $2,906.78 suggests a near-term consolidation phase, with traders watching closely for a breakout or breakdown.

On the upside, a decisive push above $2,907 could strengthen bullish sentiment, paving the way for a move toward $2,956.85, the first major resistance level. If momentum persists, gold may extend its rally toward $2,978.40, with a further upside target at $2,996.71.

Conversely, failure to hold above $2,907 could expose the market to downside risks. Immediate support sits at $2,883.16, and a sustained drop below this level may accelerate selling pressure toward $2,859.91, with deeper losses potentially testing the $2,832.63 level.

GOLD Price Chart - Source: Tradingview
GOLD Price Chart - Source: Tradingview

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2907

Take Profit – 2950

Stop Loss – 2886

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$4300/ -$2100

Profit & Loss Per Mini Lot = +$430/ -$210

GOLD

Technical Analysis

GOLD Price Analysis – March 05, 2025

By LHFX Technical Analysis
Mar 5, 2025
Gold

Daily Price Outlook

During the early European session on Wednesday, the price of gold (XAU/USD) extended its winning streak and remained well bid around above 2,920 level.

However, the bullish rally was supported by increased safe-haven demand. The rise in gold prices comes amid growing geopolitical tensions and economic uncertainties, particularly due to the US tariffs on imports from Mexico, Canada, and China.

Although, the gains were slightly capped by rising US Treasury yields, which put pressure on non-yielding assets like gold.

Rising Trade Tensions and Geopolitical Uncertainty Boost Gold’s Safe-Haven Appeal

It should be noted that the recent implementation of a 25% tariff by former US President Donald Trump on Mexican and Canadian imports, along with an increase in Chinese duties to 20%, has heightened trade tensions. This has led investors to seek safe-haven assets such as gold.

Moreover, the US's decision to pause military aid to Ukraine further fueled market uncertainty, boosting demand for the precious metal. The latest reports indicate that all US military equipment not yet delivered to Ukraine has been grounded, raising concerns about geopolitical stability.

Apart from this, Canada has confirmed retaliatory tariffs on US imports, while China’s Commerce Ministry announced additional tariffs of up to 15% on key US farm products. These developments increase the risk of a global trade war, dampening investor sentiment and reinforcing gold’s appeal as a safe-haven asset.

Gold's Bullish Momentum Limited by Rising US Treasury Yields and Strong Dollar

Despite gold’s bullish momentum, the rising US Treasury yields have limited its upside trend. At the time of writing, the US 2-year bond yield stands at 3.98%, while the 10-year yield is at 4.25%.

On the data front, the recent ISM Manufacturing PMI data showed a decline to 50.3 from 50.9 in the previous month, while the Prices Paid Index surged to a nearly three-year high due to concerns over import duties.

Meanwhile, the US Dollar Index (DXY) remains strong, trading around 105.70, which could also limit the gold’s bullish movement.

Moving ahead, investors are now shifting their focus to key US economic data releases scheduled for the North American session, particularly the ISM Services PMI and the ADP Employment Change report.

Hence, the weaker-than-expected PMI could reinforce concerns about slowing economic growth, supporting gold prices further.

GOLD Price Chart - Source: Tradingview
GOLD Price Chart - Source: Tradingview

GOLD (XAU/USD) – Technical Analysis

Gold (XAU/USD) is currently trading at $2,915.74, struggling to maintain bullish momentum as it hovers near key support levels. The pivot point at $2,907.49 remains a critical threshold for determining the metal’s short-term trajectory.

The 50-day EMA at $2,906.78 suggests a near-term consolidation phase, with traders watching closely for a breakout or breakdown.

On the upside, a decisive push above $2,907 could strengthen bullish sentiment, paving the way for a move toward $2,956.85, the first major resistance level. If momentum persists, gold may extend its rally toward $2,978.40, with a further upside target at $2,996.71.

Conversely, failure to hold above $2,907 could expose the market to downside risks. Immediate support sits at $2,883.16, and a sustained drop below this level may accelerate selling pressure toward $2,859.91, with deeper losses potentially testing the $2,832.63 level.

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GOLD

Daily Trade Ideas

GOLD Price Analysis and Trade Forecast: Daily Trading Signal

By LHFX Technical Analysis
Mar 4, 2025
Gold

Daily Price Outlook

- Gold remains bearish below $2,893, with the 50-day EMA at $2,909 acting as strong resistance.

- Immediate support at $2,859—break below this level could accelerate selling toward $2,832.

- Sell positions below $2,893 remain favorable, with a stop-loss at $2,915 and profit target at $2,859.

Gold is trading at $2,887.61, facing downward pressure as it struggles below the pivot point of $2,893.92. The short-term technical setup suggests a bearish bias, with the 50-day EMA at $2,909.11 acting as immediate resistance.

A failure to reclaim this level could reinforce selling momentum, pushing prices toward the first support at $2,859.91, with further downside targets at $2,832.63 and $2,807.60.

On the upside, gold must break decisively above $2,893.92 to challenge resistance at $2,930.44, with a stronger rally possible toward $2,956.85 and $2,978.40 if buyers regain control.

However, given the metal’s inability to sustain gains above key moving averages, near-term risks remain skewed to the downside.

A sell strategy below $2,893 appears favorable, with a take-profit target at $2,859 and a stop-loss placed at $2,915. Traders should watch for price action near support levels, as increased volume around these zones could signal potential reversals.

If selling pressure intensifies, gold could extend its decline toward the $2,832 handle, reflecting broader weakness in the precious metals market.

GOLD Price Chart - Source: Tradingview
GOLD Price Chart - Source: Tradingview

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2893

Take Profit – 2859

Stop Loss – 2915

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$3400/ -$2200

Profit & Loss Per Mini Lot = +$340/ -$220

GOLD

Technical Analysis

GOLD Price Analysis – March 04, 2025

By LHFX Technical Analysis
Mar 4, 2025
Gold

Daily Price Outlook

Gold (XAU/USD) maintained its strong bullish momentum, surging to an intra-day high of $2,921 and currently trading around $2,920 on Tuesday.

This rally was driven by heightened trade tensions after former US President Donald Trump confirmed new tariffs on Canada, Mexico, and China. This fueled risk aversion, weakening the US dollar and boosting gold’s appeal as a safe haven, driving prices higher.

Gold Supported by Trade War Escalation and Weaker US Yields

Notably, the US announced that it will impose new tariffs on key trading partners, which prompted immediate retaliation from Canada and China. Canada confirmed a 25% tariff on $30 billion worth of US imports, with additional tariffs on $125 billion in goods set to follow within 21 days.

Meanwhile, China announced additional tariffs of up to 15% on US agricultural imports, including chicken, pork, soy, and beef, effective March 10. This tit-for-tat trade war has increased uncertainty in global markets, driving investors toward safe-haven assets like gold.

At the same time, the broad-based US dollar is losing traction, thanks to declining US Treasury yields. The benchmark US 10-year yield hit a five-month low of 4.11% on Tuesday. this was seen as another key factor that boost Gold price.

US Halts Military Aid to Ukraine, Escalating Geopolitical Tensions and Boosting Gold’s Appeal

On the flip side, Bloomberg reports that the US has "paused" all military aid to Ukraine, with President Trump halting weapons shipments.

Additionally, tensions between Trump and Ukrainian President Volodymyr Zelenskyy escalated after a heated exchange led to the abandonment of a proposed agreement on Ukraine’s rare earth minerals.

These geopolitical risks have heightened market volatility, further boosting gold’s appeal as a safe-haven asset.

US Economic Data and Fed Rate Cut Expectations Impact Gold Price

On the data front, the ISM Manufacturing PMI came in at 50.3, slightly below expectations, while S&P Global’s final Manufacturing PMI for February exceeded forecasts at 52.7.

Meanwhile, the US PCE inflation report showed steady inflation, with monthly headline PCE at 0.3% and annual PCE at 2.6%. However, the CME FedWatch Tool now indicates an 85.6% probability of a Fed rate cut by June, which could further weaken the US dollar and support gold prices.

GOLD Price Chart - Source: Tradingview
GOLD Price Chart - Source: Tradingview

GOLD (XAU/USD) – Technical Analysis

Gold is trading at $2,887.61, facing downward pressure as it struggles below the pivot point of $2,893.92. The short-term technical setup suggests a bearish bias, with the 50-day EMA at $2,909.11 acting as immediate resistance.

A failure to reclaim this level could reinforce selling momentum, pushing prices toward the first support at $2,859.91, with further downside targets at $2,832.63 and $2,807.60.

On the upside, gold must break decisively above $2,893.92 to challenge resistance at $2,930.44, with a stronger rally possible toward $2,956.85 and $2,978.40 if buyers regain control.

However, given the metal’s inability to sustain gains above key moving averages, near-term risks remain skewed to the downside.

A sell strategy below $2,893 appears favorable, with a take-profit target at $2,859 and a stop-loss placed at $2,915. Traders should watch for price action near support levels, as increased volume around these zones could signal potential reversals.

If selling pressure intensifies, gold could extend its decline toward the $2,832 handle, reflecting broader weakness in the precious metals market.

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GOLD

Daily Trade Ideas

GOLD Price Analysis and Trade Forecast: Daily Trading Signal

By LHFX Technical Analysis
Mar 3, 2025
Gold

Daily Price Outlook

- Gold remains bearish below $2,867, with resistance at $2,888.58 and support at $2,845.19.

- The 50-day EMA at $2,894.43 signals continued selling pressure unless gold breaks higher.

- Short-term strategy: Sell below $2,866, target $2,845, stop-loss at $2,879.

Gold prices (XAU/USD) are hovering near $2,863.95, struggling to gain momentum as key resistance levels limit upside potential. The pivot point at $2,867.09 remains a crucial level—staying below this threshold reinforces a bearish short-term bias.

Technically, gold is facing immediate resistance at $2,888.58, with stronger hurdles at $2,906.26 and $2,930.44. A breakout above these levels could shift momentum bullish, but failure to clear $2,867.09 leaves gold vulnerable to further declines.

On the downside, immediate support lies at $2,845.19, followed by $2,829.07 and $2,810.89, areas that could attract buying interest if tested.

The 50-day EMA at $2,894.43 is acting as a dynamic resistance, suggesting continued selling pressure below this mark.

Short-term traders should monitor price action closely—a sell entry below $2,866 with a take-profit target of $2,845 appears viable, with a stop-loss at $2,879 to manage risk.

Given the ongoing macroeconomic uncertainty and Federal Reserve rate expectations, gold remains in a consolidation phase. A decisive move above resistance or below key support levels will likely determine its next direction.

GOLD Price Chart - Source: Tradingview
GOLD Price Chart - Source: Tradingview

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2866

Take Profit – 2845

Stop Loss – 2879

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$2100/ -$1300

Profit & Loss Per Mini Lot = +$210/ -$130


GOLD

Technical Analysis

GOLD Price Analysis – March 03, 2025

By LHFX Technical Analysis
Mar 3, 2025
Gold

Daily Price Outlook

Gold (XAU/USD) extended its upward trend and remained well bid around $2,850 on Monday, after finding support near a three-week low of $2,832 from Friday.

However, the precious metal gained momentum as traders continued to expect that the Federal Reserve may cut interest rates by 0.25% twice before the year ends.

This outlook was strengthened by signs of weakening consumer sentiment, which failed to push the US Dollar higher, even though it had briefly recovered from its two-month low.

Gold Supported by Weaker USD and Rate Cut Expectations

On the US front, the broad-based US dollar has been losing traction, thanks to the market expectations that the Federal Reserve might cut interest rates in the near future.

However, the weakening of the dollar was also influenced by the latest economic data, including the Personal Consumption Expenditures (PCE) inflation report, which showed that inflation remains under control.

Meanwhile, the monthly PCE came in steady at 0.3%, and the annual PCE was at 2.6%. Although inflation eased slightly in the core PCE category, the overall economic conditions provided a supportive backdrop for gold.

Moreover, the continued expectations of a possible rate cut by the Federal Reserve further pressured the US dollar, as lower rates make the dollar less attractive compared to other assets.

As a result, gold gained momentum, with investors seeking protection from potential economic instability, helping to maintain a positive bias for the precious metal.

Geopolitical Uncertainty and Trade Tensions Boost Gold Demand as a Safe Haven

Another factor supporting gold prices is the uncertainty surrounding US President Donald Trump's tariff plans. However, the ongoing trade tensions, particularly with China, have fueled concerns about potential economic fallout.

Meanwhile, the Trump's recent decision to limit Chinese investments in US strategic sectors and impose tariffs on key goods has intensified fears of a trade war. This, combined with rising geopolitical risks, has increased demand for gold as a safe-haven asset.

Apart from this, the escalating tensions between Trump and Ukrainian President Volodymyr Zelenskyy added to the geopolitical uncertainty.

Notably, the planned agreement between the two leaders, which would have granted the US greater access to Ukraine's rare earth minerals, was abandoned following a heated exchange, further complicating the global political situation.

Global Economic Improvement Caps Gold Gains as Traders Await Key US Data

Despite increasing geopolitical uncertainty, the global market sentiment has been flashing green on the day as the global economy shows signs of improvement.

This can be witnessed by the fact that Manufacturing activity in both Australia and China showed positive growth, with Australia’s PMI revised upward and China’s PMI coming in stronger than expected.

This improvement in global economic conditions has capped further gains for gold, as traders stay cautious ahead of this week’s important US economic data releases.

Looking ahead, the focus will shift to key US economic reports, such as the ISM Manufacturing PMI and the highly anticipated Nonfarm Payrolls report.

These releases could provide fresh insights into the US economy and influence the direction of the US Dollar, which will, in turn, affect gold prices.

GOLD Price Chart - Source: Tradingview
GOLD Price Chart - Source: Tradingview

GOLD (XAU/USD) – Technical Analysis

Gold prices (XAU/USD) are hovering near $2,863.95, struggling to gain momentum as key resistance levels limit upside potential. The pivot point at $2,867.09 remains a crucial level—staying below this threshold reinforces a bearish short-term bias.

Technically, gold is facing immediate resistance at $2,888.58, with stronger hurdles at $2,906.26 and $2,930.44. A breakout above these levels could shift momentum bullish, but failure to clear $2,867.09 leaves gold vulnerable to further declines.

On the downside, immediate support lies at $2,845.19, followed by $2,829.07 and $2,810.89, areas that could attract buying interest if tested.

The 50-day EMA at $2,894.43 is acting as a dynamic resistance, suggesting continued selling pressure below this mark.

Short-term traders should monitor price action closely—a sell entry below $2,866 with a take-profit target of $2,845 appears viable, with a stop-loss at $2,879 to manage risk.

Given the ongoing macroeconomic uncertainty and Federal Reserve rate expectations, gold remains in a consolidation phase. A decisive move above resistance or below key support levels will likely determine its next direction.

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GOLD