The price of gold remains depressed above USD 2900, waiting for NFP

Golden curds lower on Friday among a certain change in the position before the key issue of NFP in the USA.
Growing commercial tensions, risk mood and weaker support in USD metal.
Feds for more interest rate discounts by FED contribute to limiting losses for the Xau/USD pair.

Prices of gold trad up with a bland negative bias to the second in a row on Friday, although it lacks the next sale and remains restricted in a multi -day trade range. Innatick in the city center can be attributed to some repositioning of trade in front of strictly viewed American details of employment due to later during the North American session. The popularly known non -Farmy Payroll (NFP) will play a key role in the impact on miniature -term price dynamics (USD) and will provide a novel directional impulse for the goods.

Delving into the key risk of data, he assumes that the Federal Reserve (FED) could repeatedly reduce the rates in 2025. Among the fears of slowing down economic growth in the US, it maintains USD depression near the multi -omic low touch on Thursday. In addition, persistent fears of US President Donald Trump’s commercial policy and risk mood can still act as a wind in secure gold. This, in turn, justifies caution for the bears of traders and makes it reasonably wait for a robust observing sales before positioning for further losses.

Daily Digest Market Movers: Gold Price Traders are worth waiting for the US NFP report before placing fresh directional plants

The worries applied for the potential impact of the US President Donald Trump’s commercial tariffs on the American economy maintain the depression of the American dollar near the lowest level from November 11 and should act as a wind at the price of gold.
The uncertainty related to Trump’s commercial policy, especially after a brief of recently applied tariffs to Mexico and Canada, still weighs investors’ mood and can support secure precious metal.
On Thursday, Trump released goods from Canada and Mexico, which are in line with the US agreement – Mexico and Canada for a month with a steep 25% tariffs that entered into force this week on Tuesday.
Traders valued the possibility of further alleviating politics by the Federal Reserve among the fears of economic slowdown in the USA, which further undermines USD and benefits incompatible yellow metal.
On Thursday, the President of Filadelphia, Patrick Harker, marked the growing threats to economic growth and risk to inflation prospects, although he admitted that the economy seems to grow, with still low unemployment.
Separately, President Atlanta Fed Raphael Bostic noticed that the US economy is in amazing flow and it is tough to know where it will land. The central bank must remember about changes that affect prices and employment.
Meanwhile, the Fed ruling a member of the board of Christopher Waller said that he was strongly based on a reduction in the rate at the March meeting, although he believes that the cuts later remain on the right track if the inflation pressure decreases.
On the front of economic data, the initial unemployed claims in the US have fallen more than expected, up to 221 thousand. In the week ended on March 1, although no USD bulls could be provided or affected by Xau/USD.
Traders are eager to wait for the Crucial USA non -farm Payrolls (NFP) report, which is to show that the economy has added 160,000 novel jobs in February, and the unemployment rate was at a constant level of 4%.

The price of gold must find acceptance below USD 2900 to support perspectives for a significant decline

From a technical point of view, the price of gold shows resistance below USD 2900 round, justifying caution for bear -bears among still positive oscillators on the daily chart. Acceptance below the aforementioned handle may, however, drag XAU/USD to a horizontal zone of 2 860-2 858 USD with some indirect support near the region 2 884-2 883 USD. The downward trajectory can stretch further towards the swing last week, around 2,833-2 832 of the area, before the goods finally falls to the 2800 USD mark.

On the other hand, zone 2 926-2,930 USD seems to be an immediate obstacle, above which the price of gold may strive to re-assess the summit of all time, about USD 2956 affected in February. Some of the following purchases would be seen as a fresh trigger for stubborn traders and pave the way to resume the recent recognized Uptrend, which testified to the last three months.