XAU / USD trend forecast March 5, 2025
⚠️Gold prices rise as the US Dollar (USD) weakens amid escalating trade tensions between the United States (US), Canada, Mexico, and China, with new tariffs taking effect on Tuesday. As a result, the USD's decline supports the precious metal. XAU/USD is currently trading at $2,918, up 0.62%.
Market sentiment remains negative after the implementation of 25% tariffs on Canada and Mexico, along with an additional 10% levy on Chinese goods at midnight. In response, investors seeking safe-haven assets drove Bullion prices higher, while the Greenback weakened across the board.
⚠️ Gold price recovered thanks to the tax policy of Canada, Mexico and China officially took effect yesterday, growing again around 2930. Positive and heading towards new ATH
🚨/// SELL XAU : zone 2940-2943
SL: 2948
TP: 50 - 150 - 300pips (2913)
🚨/// BUY XAU : zone 2891-2894
SL: 2886
TP: 50 - 150 - 300pips (2921)
Safe and profitable trading