In the Asian market on Thursday (March 13), the gold price fluctuated narrowly in the past two weeks. The latest yellow grid was traded near $2,940. After the US CPI accelerated by 0.5% in January, it rose by 0.2% last month, the smallest increase since October. The lower-than-expected US CPI has intensified speculation about the Fed's loose policy and enhanced the attractiveness of gold.

In addition, the threat of US and European tariffs has escalated, and safe-haven demand has once again provided momentum for gold prices to rise. US President Trump threatened on Wednesday to escalate the global trade war by imposing further tariffs on EU goods after major US trading partners said they would retaliate against the trade barriers already set up by the US president.

From the daily level of spot gold, yesterday's gold price fell and rebounded to record a positive candlestick pattern with a lower shadow. Although the price has rebounded in the near term, the MACD indicator double line has shown signs of turning into a golden cross, but the current gold price is close to the historical high pressure. Whether it can be successfully broken through is still unclear. It is necessary to be cautious in chasing highs. You can pay attention to whether the support of the MA5 moving average is effective.

From the 4-hour level of spot gold, this week's gold price fell back to the 2880 first-line position to confirm support and continued to rebound. At present, the MACD indicator double line has issued a golden cross change signal, and the moving average cluster shows a bullish arrangement, suggesting that the bulls may have returned. There is a chance to rise further in the future. It is recommended to pay attention to the support strength of the MA5 and MA10 moving averages during the day. Pressure: 2950-2960-2970 Support: 2840-2930-2920.

Disclaimer: The article is contributed by the market analyst from Bitop market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.