Gold Analysis – 07.Mar.2025
Gold Analysis: Upon analyzing the gold chart on the two-hour timeframe, we can see that despite multiple attempts to break above $2916, the price failed to close above this level during a six-hour struggle and instead corrected down to $2895. However, after reaching this support zone, demand pressure kicked in, pushing gold back up to $2922 so far.
Today, we have a high-impact economic calendar featuring:
📌 NFP (Non-Farm Payrolls)
📌 Average Hourly Earnings
📌 Unemployment Rate
📌 Speeches from Jerome Powell & Donald Trump
These events could cause significant market volatility, especially with the NFP release in less than an hour! If the NFP figures come in higher than expected, the USD will likely strengthen, leading to a gold decline. Conversely, weaker-than-expected data could boost gold’s bullish momentum.
🔍 Based on market dynamics, I anticipate a potential liquidity grab above $2930 before a clearer trend emerges. However, we remain patient and will wait for the actual data release before making further judgments!
(This Post on TradingView)
Author : Arman Shaban
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