Today at 6:27 AM | Gold

Gold holds high position amid economic and geopolitical risks

Gold holds high position amid economic and geopolitical risks

On Monday, gold is trading below the record level of $3004.91 reached at the end of last week, but still holding high. The metal's price is supported by geopolitical tensions, concerns regarding tariffs, and hopes of a Federal Reserve (Fed) interest rate cut.

According to Kelvin Wong, senior analyst at OANDA, the rise in gold prices is linked to fears of stagflation. Short-term dynamics remains positive, the expert noted.

As Treasury Secretary Scott Bessent said on Sunday, the risk of recession in the US remains despite a possible adjustment of economic conditions. Meanwhile, consumer sentiment fell to a 2.5-year low in March and inflation expectations rose sharply. Investors fear Donald Trump's new tariffs could push up prices and weaken the economy. 

Meanwhile, geopolitical tensions in the Middle East escalated over the weekend.

Markets now await Wednesday's Fed meeting and Jerome Powell's subsequent speech. A possible increase in the inflation forecast and his comments on trade risks could support gold prices, as reported by Reuters.

Elena Dorohina MarketCheese
Gold buy
Period: 24.03.2025 Expectation: 5000 pips
Gold buyers set for another attack at 3,000 level
Today at 11:41 AM 12
AntonVolkov
AntonVolkov

Listed among the best MarketCheese authors
2nd in the segment "Metals"
Period: 28.03.2025 Expectation: 2920 pips
Markets revise silver price expectations downward
Today at 10:08 AM 9
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segments "Indices" and "Metals"
2nd in the segments "Currencies" and "Oil and gas"
Period: 24.03.2025 Expectation: 100 pips
Buying Brent with target of $72 per barrel
Today at 08:16 AM 19
Period: 24.03.2025 Expectation: 1593 pips
S&P 500 is in correction due to trade tensions and recession fears
Today at 07:00 AM 25
Period: 21.03.2025 Expectation: 1400 pips
GBPUSD is poised for a pullback towards the trend line
14 March 2025 104
AntonVolkov
AntonVolkov

Listed among the best MarketCheese authors
2nd in the segment "Metals"
Period: 26.03.2025 Expectation: 670 pips
Brent prices may rebound amid trade instability
14 March 2025 90
Alexandra_Belova
Alexandra_Belova

Listed among the best MarketCheese authors
1st in the segments "Currencies", "Crypto" and "Oil and gas"
Go to forecasts