Contents
Market Recap
Gold prices remain bullish overall, with XAU/USD trading near $2,900 as of March 3, 2025. The metal continues to benefit from safe-haven demand amid geopolitical tensions and inflationary pressures. For traders, Exness offers competitive spreads and reliable execution for forex trading.Current Price Action and Trends
Price Level:
XAU/USD is currently testing the $2,900 area, with a potential pullback toward $2,835 before resuming its upward trajectory.Trend:
The broader trend remains bullish, supported by central bank demand and ETF inflows. Short-term corrections are expected, but the long-term outlook favors further gains.Key Levels:
- Support: $2,835 (critical level for bullish continuation)
- Resistance: $2,935 (immediate upside barrier)
- Long-Term Target: $3,075β$3,300 (bullish breakout targets)
Trading Strategy for XAU/USD
Entry Points
- Pullback Entry: Buy on a dip toward $2,835, targeting $2,935.
- Breakout Entry: Enter long if prices close above $2,935, aiming for $3,075.
Risk Management
- Stop Loss (SL): Place below $2,835 to protect against a bearish reversal.
- Take Profit (TP): Set at $2,935 (immediate target) or $3,075 (long-term target).
Key Indicators to Monitor
- RSI: A rebound from oversold levels (below 30) could signal renewed buying pressure.
- Moving Averages: The 50-period MA ($2,850) and 200-period MA ($2,700) suggest upward momentum.
Rationale for Strategy
- Bullish Drivers: Rising inflation, potential Fed rate cuts, and geopolitical risks continue to drive demand.
- Volatility: Monitor Fed announcements (March 18β19) and inflation data (March 12) for catalysts.
Final Advice
Stay alert for a potential pullback to $2,835. If the Fed hints at rate cuts or inflation spikes, expect a surge toward $3,000+. Use tight stops below $2,835 and scale profits at $2,935 and $3,075. For aggressive traders, consider a breakout entry above $2,935 with a TP at $3,075.