March 2, 2026 Spot Gold Morning Analysis

Last week, spot gold initially fluctuated and then surged sharply. On Friday, driven by the escalation of the US-Israel-Iran conflict, safe-haven funds flooded in, pushing the gold price through the key level of $5,200 and closing above $5,270. The weekly chart closed with a large bullish candle, indicating strong bullish momentum.

Over the weekend, tensions in the Middle East continued to escalate, with increased confrontation between the US, Israel, and Iran. Market risk aversion sentiment is at its peak, which is currently the strongest support for gold prices. As long as the conflict does not cool down, gold prices are likely to surge higher; if there is further counterattack, gold is highly likely to jump sharply. Meanwhile, the Federal Reserve's rate cut expectations remain, and the US dollar is relatively weak, which is a long-term positive factor for gold.

Both daily and weekly charts show an upward trend, with moving averages diverging upwards, indicating a very strong trend. In the short term, due to the large rally, there is a need for a correction to digest profit-taking, but support remains solid. Key levels: 5220-5250 serve as strong support; only a break below would weaken the trend. Resistance levels are at 5350-5400; a breakout above would open the upward space.

Today, the market opened high and oscillated, with geopolitical factors dominating the trend. Technically, the bulls are favored. In trading, it is recommended to follow the trend and buy on dips, avoid chasing highs, and strictly set stop-losses. Pay close attention to the development of the situation; if conflicts persist, the trend remains strong, but if tensions ease, be alert for a pullback.

It is suggested to buy on dips around 5320-5340, with targets near 5370-5400.

The above is only personal advice for reference and does not constitute investment guidance. Please follow the specific layout of Cheng Jingsheng Shi Pan!