Gold Price News: Gold hovers at just under USD 3,000 after historic high

On the morning of March 17, 2025, the price of gold was quoted at USD 2,983 per ounce, almost unchanged from Friday's closing price. Following the historic breakthrough above the psychologically important USD 3,000 mark in the previous week, the price of gold is holding steady at a high level, which continues to be supported by ongoing uncertainty on the global markets.

The latest weak US inflation data has strengthened expectations of upcoming interest rate cuts by the US Federal Reserve. Investors are already expecting lower interest rates from June 2025, which is providing additional support for the gold price as falling interest rates reduce the opportunity costs for gold owners.

The US dollar index continues to hover near a multi-month low. The weak dollar makes gold cheaper for investors outside the US, which noticeably increases international demand for the precious metal. A weak dollar therefore remains a decisive factor for the strong gold price trend.

New punitive tariffs imposed by the US on steel and aluminum imports and tough countermeasures by the EU are putting considerable pressure on the global economy. Growing concerns about a global trade war are increasingly driving investors out of riskier investments and into gold, which is traditionally valued as a hedge against uncertainty and inflation.

The situation in Ukraine remains tense. Despite planned talks between US President Trump and Russian President Putin, there has been no clear progress towards a ceasefire so far. In addition, new escalations in the Middle East - for example in Yemen and the Gaza Strip - are causing additional global uncertainty and driving investors further into gold as a safe haven investment.

On the chart, the upward trend in gold remains intact. The USD 3,000 mark currently represents the most important resistance after the precious metal set a new record high of just under USD 3,005 on Friday. If a sustained jump above this resistance is achieved, further price increases could follow. On the downside, the range between USD 2,950 and USD 2,900 and further down at USD 2,833 serve as important support.

The coming days are likely to be decisive. The focus will be on the Fed's interest rate policy and developments in the trade conflict between the US and the EU. New signals of possible interest rate cuts or new escalations in the trade dispute could continue to drive the gold price in the short term. At the same time, progress in geopolitical talks - for example between the US and Russia - could temporarily exert some pressure on the gold price. Investors should therefore follow the news situation closely and be prepared for short-term volatility.