Gold Technical Analysis March 11, 2025
As of March 11, 2025, gold has shown notable movements influenced by both technical indicators and fundamental factors.
Current Price Levels and Technical Indicators:
Over the past hour, gold has experienced fluctuations, trading around $2,900 per ounce. Technical indicators present the following insights:
- Moving Averages: Gold is holding above the 21-day moving average at $2,912, suggesting that the bullish trend remains intact.
- Relative Strength Index (RSI): The RSI has dipped slightly but remains above the 50 level, indicating that the bullish momentum is still present.
Support and Resistance Levels:
Identifying key support and resistance levels is crucial for anticipating potential price movements:
- First Support: $2,900, as the price is currently trading near this level.
- Pivot Level: $2,912, aligning with the 21-day moving average, which could act as a critical support level.
- First Resistance: $2,960, a level that has previously capped gold’s upward momentum.
Fundamental Factors:
Several fundamental factors are influencing the price of gold:
- US Dollar and Treasury Yields: The dollar index is near a four-month low, making gold more affordable for foreign buyers. Additionally, benchmark 10-year U.S. Treasury yields have fallen, supporting gold prices.
- Trade Tensions and Economic Concerns: Recent U.S. tariffs on imports from Mexico, Canada, and China have raised concerns about inflation and economic growth, leading investors to seek safe-haven assets like gold.
- Upcoming Inflation Data: Investors are awaiting U.S. Consumer Price Index (CPI) data due on Wednesday to assess the Federal Reserve’s potential policy actions.
Conclusion:
Gold continues to trade within a range, supported by technical indicators and influenced by fundamental factors such as currency movements, trade policies, and inflation expectations. Traders should monitor key support and resistance levels, as well as upcoming economic data releases, to navigate the current market dynamics effectively.