Gold Daily | Spot Gold Nears 3000 USD Amid Geopolitical Tensions and Tariff Concerns

Generated by AI AgentAinvest Market Brief
Monday, Mar 17, 2025 8:01 am ET1min read
【Latest Gold Price and Recent Trends】

Gold prices are slightly below the 3000 USD milestone due to geopolitical tensions and tariff wars. Spot gold rose 0.25% to 2995 USD, driven by stagflation concerns, with short-term resistance at 3016 USD or 3030 USD.

【Technical Analysis】

Recent gold price analysis shows a continuation of the upward trend after weak US PPI data, with revised target levels identified. Key support levels are at 2955 USD, and further momentum is expected if prices remain above these levels. Potential resistance could see gold reaching 3049 USD short-term, with 3114 USD as a higher target.

【Market Sentiment and Economic Background】

Concerns over tariff impacts on inflation and economic growth continue to drive gold as a safe haven. The US retail sales data, known for its market influence, may impact gold prices depending on its reflection on the economic outlook. Geopolitical tensions further support gold's attractiveness as investors seek stability amid uncertainties.

【Analyst Opinions】

Analysts highlight the negative correlation between gold and Nasdaq, suggesting that ongoing stock market volatility could push gold prices higher, possibly exceeding 3800 USD. The potential for gold to outperform in economic uncertainty remains strong, with tariffs expected to fuel inflation, driving demand for gold as a hedge. Market focus is shifting to the upcoming FOMC policy decision, where the Fed is expected to maintain interest rates, with attention on the "dot plot" to gauge future rate cut expectations.

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