Hey traders, it’s Daavile FX here, breaking down the XAUUSD (Gold/USD) action from last week—March 2, 2025, showed gold melting like ice cream under the sun, dropping hard. Based on the latest market vibes and data, gold took a serious hit, sliding nearly 4.10% this week, hitting its lowest in over a week as of February 06, 2025, per reports. Here’s the quick scoop, keeping it chill but sharp for your trading edge.

Gold’s big drop came from a mix of profit-taking after hitting record highs around $2,953 per ounce and growing unease over U.S. President Trump’s tariff plans, which spooked markets.

By Friday, February 28, gold settled below $2,840, with bearish pressure piling on from reduced safe-haven demand and a stronger U.S. dollar. Traders saw support levels around $2,834–$2,835, where bulls might jump back in, but resistance at $2,864 need to break with good volume.

The week kicked off with gold hitting all-time highs, but midweek, U.S. economic data—like PCE inflation and Fed rate cut chatter—shifted the mood. By Thursday, gold pulled back 2% from its peak, and Friday’s risk-off vibes sealed the deal, with a ceasefire rumor in Lebanon-Israel adding pressure. Posts on X also hinted at bearish sentiment, with traders noting gold rejecting key resistance zones and eyeing corrections to supports around $2,884–$2,875.

For the U.S. economy, this drop’s a mixed bag—positive if it signals dollar strength and controlled inflation (Fed’s hawkish stance), but negative if it reflects trader panic or tariff fears slowing growth. Gold’s 0.11% dip by February 21 shows this trend carried over, with last week’s melt underscoring caution. Watch supports at $2,807 and retest at $2,834 for buys, but don’t expect a quick bounce with resistance looming.

Trade smart, manage risk, and stay on top of Trump’s moves and U.S. data—this market’s tricky but full of chances if you play it right!

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The content presented in this video by DAAVILE is solely for educational purposes and should not be construed as financial advice. Trading inherently involves risks, and past performance is not a guarantee of future outcomes. Any strategies discussed are based on historical data and may not be suitable for all individuals. Always conduct your own thorough research and consult with a qualified financial professional, taking into account your unique circumstances, before making any investment decisions. DAAVILE and its affiliates assume no responsibility for any incurred losses. Viewer discretion is highly recommended.
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