Gold Price News: Gold price at USD 2,985 - interest rate speculation and trade conflict drive the market

The gold price is stable at a high level of around USD 2,985 per troy ounce on the morning of March 14, 2025, having risen sharply by around 1.5% the previous day. The market remains characterized by ongoing uncertainty. At the same time, the latest inflation data from the USA is having a supportive effect. The previous record level of just under USD 3,000 is once again becoming the focus of investor attention.

US data published yesterday showed that producer prices surprisingly stagnated in February. Analysts had expected an increase. The weak figures are fueling speculation that the US Federal Reserve could make its interest rate policy even looser in the upcoming meeting, which is giving the gold price a considerable tailwind. Investors are therefore increasingly positioning themselves with gold as a safe investment, as the likelihood of falling interest rates weakens the US dollar and makes the precious metal more attractive.

Yesterday, the EU imposed new counter-tariffs of 50% on American whiskey in response to US tariffs on steel and aluminum imports. President Trump responded promptly with threats of massive counter-tariffs of up to 200% on European wines and spirits. The ongoing escalation is weighing on the global economy and driving investors further into the safe haven of gold.

The US dollar index remains close to its most recent four-month low. Despite a slight recovery, the greenback remains under pressure. The weakness of the dollar is making gold purchases more attractive for investors outside the US and is therefore supporting demand for gold.

The geopolitical situation remains tense - particularly in the conflict between Russia and Ukraine. President Putin expressed his willingness in principle to accept a ceasefire proposed by the USA, but imposed conditions. As long as no definitive agreement is reached, the situation will remain fragile. This uncertainty continues to support demand for gold as a safe investment.

From a technical chart perspective, the overarching upward trend in the gold price remains clearly intact. The market is currently stable near its all-time high. The psychologically important USD 3,000 mark could be tested again in the short term. If a sustained breakthrough above this level is achieved, further significant buying momentum would be possible. Support lies at USD 2,930 and lower at USD 2,900.

In the short term, market developments will be influenced in particular by the further escalation in the trade dispute, geopolitical news and interest rate expectations for the US Federal Reserve. Surprising political decisions or further weak US economic data could drive the gold price to new record highs in the short term. Investors should pay particular attention to news from the US and Europe today.