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Mar 06, 2025

XAU/USD chart on the hourly time frame

XAU/USD chart on the hourly time frame

Gold is currently trading at $2898 per ounce, retreating from recent highs due to pressure from rising US bond yields and a recovering dollar. However, demand for gold remains supported by market concerns over monetary policy and global economic tensions.

  • Next resistance is at $2920, and if broken, it could target $2950.
  • As for the main support, it is at $2880, and breaking it could push the price towards $2850.

The markets are awaiting any new developments that may affect gold’s movements, especially with important economic data approaching this week.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
2911.27
2905.75
2902.34
2897.00
2891.56
2888.24
2882.53
USOIL chart on the hourly time frame

USOIL chart on the hourly time frame

Oil is currently trading at $66.23 per barrel, continuing to decline as concerns over slowing global demand and rising US inventories mount. The rising US dollar is also weighing on prices, reducing oil’s appeal to investors.

  • Major Resistance: $67.50 – Breaking it could push the price towards $69.00.
  • Major Support: $65.80 – Breaking it could open the door for further decline towards $64.50.

Markets are awaiting US inventory data and geopolitical developments that could impact the price path in the coming period.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
66.846
66.581
66.421
66.167
65.902
65.742
65.482
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