Gold Price RECAP March 3-7

Happy Friday, merchants. Welcome to Weekly Market Wrap, where we look at these last five days of trading with a focus on market news, economic data and addresses that have had a greater impact on gold prices and other major associated assets – and may continue in the future.

Although gold prices abandon the opening day on Friday, the immediate prices are specific to achieving strong weekly gains as financial markets have improved under the weight of uncertainty from Washington.

The huge economic uncertainty in the world has become the prevailing driver of the markets this week, an effect that exceeded gold alone. The main source of uncertainty, of course, is the back (and perhaps again?) For US administration plans and definition applications for its largest commercial partners.

The increasing tensions with the deadline were raised less than the concrete, and raised the high price of victory in the strong dollar in US dollars from the beginning of the week, with a modification of the place that reaches 2890 dollars/ounce until the American Monday session. After that, things became “dangerous” in the circulation hours overnight, as the White House explained at the time that there were no small or non -existent options to prevent the imposition of a 25 % wide tariff on Tuesday. The circular boom pushed the risk that followed that yellow metal easily to $ 2900 and a height of $ 2920/ounces before the opening of the American markets on Tuesday. The Gold Rally was strong, but eventually crowned with a simultaneous bounce on the US dollar (as expected between the announcement of American definitions and the inevitable revenge against the partners.)

It is not possible that it is not concrete, of course, that the American stock market that was celebrated on Tuesday is relatively, as investors fled globally to safety, often in the form of gold. This provides somewhat fixed rear winds to gold prices during the rest of the week. Although the Trump administration hesitated to the definitions and took half of the measures to reduce them before announcing the “temporary” decline completely, the yellow metal circulating with some fluctuations between 2905-2915 dollars on the road to Friday, but rarely threatens to pass down to the round number of support at $ 2900.

It explains the extent of the narration of the Trump tariff in the market to say that we are now only dealing with the reporting of jobs in February. Here, the NFP number fell to less than expectations again, indicating a disturbing direction for the American labor market as the previous month number was also reviewed. This alone is expected to enhance gold prices – it gets more uncertainty and a federal reserve argument to reduce them faster – but it has been diluted by the Federal Reserve Chair, Jerome Powell, who shows that the central bank is actually sitting at its hands so that it is “greater clarity” on the financial policies of the White House. It is also possible that there will be a degree of fatigue in prices, as gold has shown strong support at $ 2900/ounces, but a little will of investors to pay the graph until after its highest level on Monday night. As a result, the precious metal moves towards the weekend is just richer than $ 2905.