The intraday chart shows that spot Gold price has almost tested the ascending triangle target, measured at $3,088.
Spot Gold
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Gold Outlook: Investors await US tariff headlines, NFP
Gold investors: The Institute for Supply Management (ISM) Manufacturing PMI and JOLTS Job Openings data will be featured in the US economic calendar on Tuesday. Investors are likely to ignore these releases and refrain from taking large positions before the Trump administration shares the details about reciprocal tariffs on Wednesday.
Spot Gold Short-Term Technical Forecast [11 March 2025]
Gold (XAU/USD) Price Forecast: From a technical perspective, the intraday chart for gold shows that the yellow metal now remains below the flat 20 simple moving average (SMA), which offers dynamic resistance around $2,907.
Gold hedging position strengthened due to inflation fears
Trump’s tariff plans and their potential economic fallout are driving gold’s strength as a safe-haven asset, with prices reaching record highs. Market uncertainty fueled by steel, aluminum, and Chinese import tariffs, coupled with declining US consumer sentiment and rising inflation expectations, has bolstered gold’s appeal.
Gold prices jump on Trump’s tariff threats, negotiations taking a break on Ukraine
Gold prices rose more than 1% on Tuesday as safe-haven demand boosted gold amid uncertainty over controversial trade policies proposed by US President Donald Trump. Yellow Metal bounced off a daily low of $2,892 to trade at $2,933.
Gold hits new low near $2,859 after NFT
Gold prices on Friday pared early gains after the release of the US labor market report for January 2025 and closed near $2,859.88 an ounce.