From Investing.com: 2025-03-24 03:19:00

Gold prices declined on Friday, but geopolitical tensions supported the price. The drop was attributed to profit-taking by traders, with the Dollar Index moving higher. Despite the decrease, gold managed to gain over 1% for the week due to safe-haven flows driven by uncertainty. Geopolitical risks, such as potential trade tariffs and Israel’s attacks on Hamas, continue to drive demand for gold as a safe-haven investment. Today, focus is on reports from S&P Global, with the US PMI report expected to impact XAU/USD prices.

The euro weakened against the US dollar on Friday as traders exited long positions ahead of the tariff deadline. EUR/USD has seen a significant rally recently, but the Fed’s dovish stance and potential tariff increases are putting pressure on the euro. The uncertainty surrounding trade policies, fiscal stimulus measures, and monetary policy stances is causing heightened volatility in EUR/USD. Traders should watch PMI reports today for further direction, with key levels at 1.07540 and 1.09130.

The British pound also fell against the US dollar on Friday as traders awaited clarity on Trump’s tariffs. While the UK may not be the primary target, any negative impact on economic sentiment can affect GBP/USD. Economic data, including PMI reports and the UK budget, will be crucial for GBP/USD’s direction this week. Traders should expect heightened volatility, with key levels at 1.28600 and 1.29550 to watch for.



Read more at Investing.com: Gold: Geopolitical Tensions Keep Prices Afloat, but Fed Signals Could Shift Moment