Gold Price News: Gold at USD 2,915 - US inflation data drive the market

On the morning of March 13, 2025, the gold price is stable at USD 2,915 per ounce, showing only minimal movement compared to the previous day (USD 2,920). The market is on hold as investors await today's publication of US inflation data (February consumer price index) at 13:30 CET. The figures will be decisive in determining the direction of the gold price in the short term.

Market participants expect consumer prices to rise moderately in February 2025, but if the data is lower than expected, this could further increase market expectations regarding possible interest rate cuts by the Federal Reserve. Interest rate cuts would further weigh on the US dollar and thus make gold investments even more attractive, which would favor a rise in the gold price. On the other hand, higher inflation rates could trigger short-term profit-taking in gold, as this would make interest rate cuts less likely.

The US dollar index remains close to a four-month low. This weakness is currently one of the key support factors for the gold price. Investors outside the dollar zone are benefiting from the fact that gold is becoming cheaper for them. This is helping to ensure that demand for the precious metal remains robust internationally.

The trade conflict between the USA on the one hand and China and Canada on the other is intensifying further. Now that the US has introduced new tariffs of 25% on steel and aluminum imports, concerns about a global economic downturn are growing. Such economic uncertainties traditionally drive investors into gold as a safe investment, which is currently providing sustained support for the price of the precious metal.

Mixed signals are emerging in the geopolitical situation today. Positive news is coming from the Ukraine crisis: a ceasefire between Russia and Ukraine could be imminent. This could reduce demand for gold as a safe investment somewhat in the short term. Nevertheless, the geopolitical situation remains fragile overall - any renewed escalation would cause demand for gold to rise again.

From a technical chart perspective, the gold price is in a healthy consolidation phase above the important support level of USD 2,900. A break of the short-term resistance at USD 2,930 would be crucial for a continuation of the positive price trend. Beyond this, the next target is the record high of USD 2,956. Support levels at USD 2,900 and USD 2,880 are crucial in the short term to maintain the current positive market momentum.

Today's trading day will clearly focus on the US inflation data. A surprisingly low figure could give the gold price a short-term boost and drive it towards record highs. If the inflation figures are higher than expected, short-term profit-taking is likely. Regardless of this, geopolitical risks and the smouldering trade dispute are likely to continue to support the precious metal and increase volatility on the gold market. Investors should pay particular attention to the publication of inflation data today.