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Gold strengthens its gains amid escalating trade concerns

Technical Analysis
By Mostafa Mahmoud
Gold strengthens its gains amid escalating trade concerns
0 3

GOLD

الذهب 1333-3-2025

Gold is trading around the $2950 resistance level, and this zone is likely to limit the upside momentum during today’s trading.

Support

 2885 2835 –
Resistance 2950 3000

–

Gold prices saw a significant rise today, with the price of an ounce increasing by 0.4% to reach $2,943.03, while gold futures in the United States rose by 0.2% to record $2,951.90.

This increase is attributed to several factors, most notably the continued uncertainty regarding tariffs, which has driven demand for safe-haven assets such as gold. Additionally, U.S. inflation data came in lower than expected, reinforcing expectations of interest rate cuts, which further support gold prices.

Based on these factors, gold is expected to continue gaining in the coming period, especially with ongoing economic uncertainty and global trade tensions.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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