Gold Technical Analysis March 13, 2025
As of March 13, 2025, at 10:51 AM, the price of gold (XAU/USD) is trading around $2,945 per ounce.
Current Price Levels and Technical Indicators:
Gold is currently trading at $2,945 per ounce, reflecting a slight increase of 0.4% from the previous session. Technical indicators suggest that gold is in a bullish trend, with the Relative Strength Index (RSI) above 60, indicating strong buying momentum. The Moving Average Convergence Divergence (MACD) is also in positive territory, supporting the bullish outlook.
Support and Resistance Levels:
Immediate support for gold is observed at $2,920, with a break below this level potentially leading to further downside toward $2,900. On the upside, resistance is identified at $2,960, and a break above this level could open the door for further gains toward $3,000 per ounce, a significant psychological barrier.
Fundamental Factors:
The recent rise in gold prices is attributed to persistent uncertainty surrounding trade tariffs, which has driven demand for safe-haven assets. Additionally, cooler-than-expected U.S. inflation data has bolstered expectations of potential interest rate cuts by the Federal Reserve, further supporting gold’s appeal. Geopolitical tensions and concerns over global economic stability continue to underpin gold’s status as a safe-haven investment.
Conclusion:
Gold continues to exhibit a bullish trend, supported by favorable technical indicators and strong fundamental factors. Traders should monitor key support and resistance levels, as well as stay informed on economic data releases and geopolitical developments that could influence gold’s price movement.