Gold Price News: Another record high - gold price exceeds USD 3,045

On the morning of March 19, gold reached another all-time high and temporarily exceeded the USD 3,045 per troy ounce mark. This corresponds to a daily increase of around 1%. Market participants remain confident despite brief profit-taking. Investors continue to see gold as essential protection against global uncertainty.

The US dollar continued to lose value and reached new multi-month lows, which provided additional support for the gold price. The focus today was particularly on the Fed meeting. As expected, the Fed left the key interest rate unchanged at 4.5%. However, Fed Chairman Jerome Powell expressed caution with regard to future economic developments and hinted at possible future interest rate cuts. This cautious monetary policy stance increased the attractiveness of gold as a safe haven investment.

The situation in the Middle East escalated significantly once again. Israeli forces carried out extensive airstrikes on targets in the Gaza Strip, killing over 300 people. This put a definitive end to the previous ceasefire. Fears of a further spread of the conflict and the potential impact on global stability also ensured that demand for gold remained high.

International trade policy remains a major source of uncertainty. US President Trump once again escalated the tone today and announced further comprehensive punitive tariffs, which are due to come into force at the beginning of April 2025. These measures increase fears of an escalating trade war and further global economic downturns. Investors reacted with increasing restraint in equities and increasingly turned to gold.

The recent meeting between US President Trump and Russian President Putin did not lead to any significant progress in the Ukraine conflict. The uncertainty in the region continues and is contributing to the fact that gold remains in demand as a safe investment.

From a technical chart perspective, gold is still in a strong upward trend. The first important support lies at the recently overcome psychological level of USD 3,000. Below this, there is further support at around USD 2,980 and finally at USD 2,956, which represents a decisive point in the upward trend. On the upside, the zone around USD 3,045 to USD 3,075 is the next prominent resistance area. If it breaks through, further rises to USD 3,100 and beyond could follow in a short space of time.

In the coming days, investors will focus in particular on further geopolitical developments - especially in the Middle East and in the trade conflict scenario between the US, China and the EU. At the same time, monetary policy signals from the Fed and other central banks will remain decisive for the price trend of gold. If uncertainty remains high on the global markets, the gold price is likely to remain well supported and may soon reach new record highs.