March 2, 2026 Spot Gold Evening Analysis

Asian session gold initially retraced, then surged sharply driven by safe-haven buying, reaching a high and then slightly pulling back; European session entered a consolidation and correction phase, maintaining a generally high and slightly strong pattern with increased volatility.

Due to the tense Middle East situation, safe-haven funds continued to flow into gold, which is the main driver of today's rally. Additionally, the Fed's rate cut expectations remain, and the dollar is relatively weak, providing further support for gold prices. No major data releases tonight; market sentiment and capital flows will be the main focus, with the trend mainly oscillating at high levels.

The daily bullish trend remains unchanged, with an overall upward structure. Short-term corrections are normal after significant gains earlier, and this does not indicate a trend reversal. Key levels tonight are clear: resistance above is in the 5390–5410 range, and a breakout could lead to new highs; support below is in the 5300–5320 range, holding this area will prevent a bearish trend.

Tonight's trading strategy: avoid chasing highs or selling lows, treat the market as range-bound oscillation. Wait for a stable pullback to the 5310–5340 zone before entering long positions. Target near 5400–5430, and remember to set stop-loss orders. The current trend is bullish, and a stable correction is more suitable for long positions. Buying at high levels is risky of being trapped, and also watch out for profit-taking corrections!

The above is just personal advice for reference only and does not constitute investment guidance. Please follow Cheng Jingsheng's layout for specific strategies!!$XAU ‌#XAUUSD