- Gold is consolidated before the key non -agricultural payroll report from the United States.
- XAU/USD remains above $ 2,900, but fight while the 10 -year bonus of US bonus reaches 4,286%.
- Commercial tensions intensify while Canada and China respond to Trump tariffs.
- The Atlanta Fed GDPnow model reviews the GDP forecast of Q1 2025 to -2.4%, from -2.8%.
The gold stopped its three -day rally because investors took profits before the crucial report of non -agricultural payrolls of the United States. At the time of writing, the Xau/USD is traded at $ 2,918, practically unchanged.
The yellow metal was consolidated above the figure of $ 2,900, limited by the previous increase in the 10 -year Treasury bonus yield to a maximum of a week, before cutting those profits and placing itself at 4,286%.
Uncertainty surrounds financial markets, promoted by controversial commercial policies proposed by the president of the United States, Donald Trump. Tariffs imposed on US allies and adversaries caused reprisals by Canada and China. Meanwhile, Mexico obtained a month delay in tariffs until April 2, after Trump and the president of Mexico, Claudia Sheinbaum, discussed additional improvements in fentanyl and illegal migration.
The data in the US were mixed on Thursday. The Challenger job report showed that layoffs increased dramatically to levels not seen from the last two recessions. Meanwhile, the number of Americans who requested unemployment benefits fell below the projections, moderating the fears of recession caused by the data of Challenger, Gray and Christmas.
After the data, the Atlanta Fed GDPnow model projects that the Gross Domestic Product (GDP) for Q1 2025 will be -2.4%, an increase from the contraction of -2.8% estimated on Wednesday.
Langotos merchants will be attentive to the publication of non -agricultural payroll figures on February, with analysts projecting 160k jobs added to the workforce.
What moves the market today: the price of gold is consolidated in mixed US data.
- The real US yields, measured by the performance of the US Treasury values ​​to 10 years protected against inflation (TIPS), which are inversely correlated with gold prices, planes are maintained at 1.946%, an obstacle to Xau/USD prices.
- The initial applications of unemployment subsidy in the US for the week that ended on March 1 increased to 221k, but remained below the 235K forecast and 242K of the previous week.
- Challenger’s layoffs in February fired from 49.8k to 172K, largely due to actions related to Doge. Challenger’s data, Gray & Christmas revealed that the federal government was responsible for 62,242 of these layoffs.
- The monetary market merchants had incorporated 7 basic flexibility points in 2025, from 72 bp on Wednesday, according to data from the Prime Market Terminal.
Source: Prime Market Terminal
Xau/USD technical perspective: The price of gold remains firm above $ 2,900
The price of gold is consolidated for the second consecutive day, printing two doji candles, indicating that neither buyers nor sellers are in charge. The impulse, as shown by the relative force index (RSI), shows that buyers are losing some strength, although the RSI is in upward territory.
That said, the path of lower resistance is rising biased. The next XAU/USD resistance would be $ 2,950, followed by the historical maximum of $ 2,954. A rupture of the latter could expose the $ 3,000 mark.
On the other hand, a daily closure below $ 2,900 could put the upward trend at risk and open the door to a “healthy” setback. The first gold support would be the minimum of February 28, $ 2,832, followed by the figure of $ 2,800.
FAQS GOLD
Gold has played a fundamental role in the history of mankind, since it has been widely used as a deposit of value and a half of exchange. At present, apart from its brightness and use for jewelry, precious metal is considered an active refuge, which means that it is considered a good investment in turbulent times. Gold is also considered a coverage against inflation and depreciation of currencies, since it does not depend on any specific issuer or government.
Central banks are the greatest gold holders. In their objective of supporting their currencies in turbulent times, central banks tend to diversify their reserves and buy gold to improve the perception of strength of the economy and currency. High gold reserves can be a source of trust for the solvency of a country. Central banks added 1,136 tons of gold worth 70,000 million to their reservations in 2022, according to data from the World Gold Council. It is the largest annual purchase since there are records. The central banks of emerging economies such as China, India and Türkiye are rapidly increasing their gold reserves.
Gold has a reverse correlation with the US dollar and US Treasury bonds, which are the main reserve and shelter assets. When the dollar depreciates, the price of gold tends to rise, which allows investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rebound in the stock market tends to weaken the price of gold, while mass sales in higher risk markets tend to favor precious metal.
The price of gold can move due to a wide range of factors. Geopolitical instability or fear of a deep recession can cause the price of gold to rise rapidly due to its condition of active refuge. As an asset without yield, the price of gold tends to rise when interest rates lower, while the money increases to the yellow metal. Even so, most movements depend on how the US dollar (USD) behaves, since the asset is quoted in dollars (Xau/USD). A strong dollar tends to keep the price of gold controlled, while a weakest dollar probably thrusts gold prices.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
