March 1, 2026 Spot Gold Summary and Outlook

Last week, gold prices generally fluctuated upward, and on Friday, driven by the escalation of the US-Israel conflict, safe-haven funds flooded into the market, causing gold prices to surge significantly. The closing price stayed above 5270, forming a large bullish candlestick on the weekly chart, with the bulls maintaining dominance.

The core news factor is the Middle East situation. Over the weekend, the conflict continued to intensify, and market risk aversion sentiment reached its peak. This is the most critical driving force for Monday. As long as the situation does not cool down rapidly, gold has the momentum to rise further; if retaliatory actions occur, gold prices may jump again. Meanwhile, the Fed's rate cut expectations remain, and the US dollar is relatively weak, providing long-term support for gold prices.

From a technical perspective, the weekly and daily charts show a clear bullish trend, with moving averages diverging upward, indicating a strong trend. In the short term, due to the large gains, there is a need for a correction to digest profit-taking, but support levels below are solid. Key levels: 5220-5200 serve as strong support; only a break below would weaken the trend. On the upside, 5300-5320 is the first resistance; a breakout above opens up more space.

Monday Outlook: The market is likely to open high and either continue rising or fluctuate at high levels, with the trend entirely dependent on conflict-related news. In terms of trading, avoid blindly chasing highs; it’s more prudent to wait for a pullback to support levels for low-risk entries. For short positions at high levels, use small positions with stop-losses to prevent sudden news disruptions. Overall strategy: Bulls dominate, driven by news, follow the trend, and strictly control risks.

It is recommended to go long immediately at the open, targeting levels of 5320-5350-5380-5400.

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