GOLD Analysis & Market Focus – March 7, 2025
Market sentiment remains volatile amid trade tensions as U.S. President Trump warns of tariffs on Canadian dairy and lumber. Gold is holding around $2,900, with the potential to retest its $2,956 all-time high from February.
Traders are closely watching the U.S. CPI (Wednesday) and PPI (Thursday) for interest rate signals, as the Fed is expected to cut rates by June, which could support gold.
Technical Outlook:
Gold remains bearish while inside the channel and trading below the 2922 pivot.
Bearish scenario: A continuation toward 2895 and 2880 is expected.
Bullish scenario: A 1H candle close above 2922 would signal upside movement, targeting 2934 and 2954.
Key Levels to Watch:
Resistance: 2922 | 2934 | 2954
Pivot Level: 2906
Support: 2895 | 2880 | 2859