Gold Price News: Gold stable at USD 2,915 - focus on US inflation data and trade conflict

On the morning of March 12, 2025, the gold price was stable at USD 2,915.65 per ounce. Compared to the previous day, gold recorded a minimal change of -0.06%. 

Investors are turning their attention to the US inflation data due today at 13:30 CET. This could provide decisive impetus for the gold price, as it will give an indication of the Federal Reserve's future monetary policy. A lower inflation figure could reinforce expectations of interest rate cuts, which would support the gold price. Higher inflation figures, on the other hand, could trigger short-term profit-taking.

The US dollar index is close to a four-month low, which makes gold more attractive for investors outside the US and supports demand. A weaker dollar reduces the cost of buying gold in other currencies and can therefore increase global demand.

The yield on 10-year US government bonds currently stands at 4.22%. Falling yields reduce the opportunity cost of holding gold, as gold does not yield interest. This increases the attractiveness of gold as an asset class.

New US tariff threats against China and Canada are increasing uncertainty on the markets. These geopolitical tensions are driving demand for gold as a safe haven. Investors often seek protection in gold in times of economic uncertainty, which can support the price. 

The US has agreed to resume military aid to Ukraine following a proposed ceasefire with Russia. This could reduce geopolitical tensions and influence the gold price in the short term. An easing of the situation could reduce demand for gold as a safe haven. 

From a technical chart perspective, the gold price is in a consolidation phase. Important resistances are at USD 2,930 and the record high of USD 2,956. Support can be found at USD 2,900 and below that at USD 2,880. The overall upward trend remains intact, but there could be profit-taking in the short term, especially if the US inflation data is higher than expected.

Today's US inflation data will be decisive for the short-term development of the gold price. Lower inflation could support the gold price, while higher inflation figures could lead to profit-taking. Investors should keep a close eye on the publication at 13:30 CET. In addition, further developments in the trade conflict and geopolitical events could influence the gold price.