Gold Daily | Gold Stabilizes Near $2,915 Amid Trade Tensions and Bullish Market Outlook
Wednesday, Mar 5, 2025 7:00 am ET
1min read 【Latest Gold Price and Recent Trends】
Gold prices have stabilized near $2,915 after recent gains due to a weaker dollar and trade uncertainties. Concerns over U.S. tariffs on Mexico, Canada, and China continue to drive safe-haven demand, although rising U.S. bond yields may limit gold's appeal.
【Technical Analysis】
Gold is defending the $2,900 level, with a bullish outlook on daily charts. A close above $2,930 could reignite an uptrend, with key resistance at historical highs of $2,956 and $2,970. Support stands at the 21-day SMA of $2,903.
【Market Sentiment and Economic Background】
Markets are focused on U.S. tariffs and potential agreements with Mexico and Canada. Trade tensions, inflation concerns, and economic slowdowns are supporting gold demand. The ADP employment report and upcoming non-farm payroll data are awaited for further clues.
【Analyst Opinions】
Analysts expect gold to continue to be favored amid ongoing trade uncertainties. Despite potential tariff compromises, the overall economic instability and potential early Fed rate cuts could further boost gold prices. ubs and jpmorgan maintain a bullish outlook, with potential for gold to reach $3,000 by 2025 due to geopolitical and economic factors.
Gold prices have stabilized near $2,915 after recent gains due to a weaker dollar and trade uncertainties. Concerns over U.S. tariffs on Mexico, Canada, and China continue to drive safe-haven demand, although rising U.S. bond yields may limit gold's appeal.
【Technical Analysis】
Gold is defending the $2,900 level, with a bullish outlook on daily charts. A close above $2,930 could reignite an uptrend, with key resistance at historical highs of $2,956 and $2,970. Support stands at the 21-day SMA of $2,903.
【Market Sentiment and Economic Background】
Markets are focused on U.S. tariffs and potential agreements with Mexico and Canada. Trade tensions, inflation concerns, and economic slowdowns are supporting gold demand. The ADP employment report and upcoming non-farm payroll data are awaited for further clues.
【Analyst Opinions】
Analysts expect gold to continue to be favored amid ongoing trade uncertainties. Despite potential tariff compromises, the overall economic instability and potential early Fed rate cuts could further boost gold prices. ubs and jpmorgan maintain a bullish outlook, with potential for gold to reach $3,000 by 2025 due to geopolitical and economic factors.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.