Gold traded near two-week lows below $2,900 in Asian markets on Friday, breaking an eight-week run of gains. The metal is being pressured by a strengthening U.S. dollar amid Trump's new tariff threats and the U.S. economy.
Trump confirmed 25% tariffs on Mexican and Canadian goods from March 4 and an additional 10% on Chinese imports. Weak US GDP data (2.3% in Q4) and rising jobless claims also support the dollar.
Traders are waiting for the PCE core price index data to gauge the Fed rate outlook and the impact on gold
Resistance levels: 2869, 2877, 2885
Support levels: 2852, 2834
A false break of 2852 could trigger a pullback to the imbalance zone (2869-2877) or to the liquidity zone (2885) before a further decline. Fundamental and technical background is weak, gold may try to renew the low.
Regards R. Linda!
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🌹TRADING is a CASINO💔!?
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