Analysis of Today's Market Trends

Gold extended its decline on Friday, falling more than 1%, and ended the week with a loss of over 3%. The U.S. dollar rose to a ten-day high of 107.66 amid concerns over U.S. trade policies and data sparking fears of an economic recession. After reaching a daily high of 2,885,gold was tradingat2,866.

According to U.S. President Donald Trump, a 25% tariff will be imposed on products from Mexico and Canada on March 4th. The release of the Fed's preferred inflation indicator, the core Personal Consumption Expenditures Price Index (PCEPI), suggested that inflation continues to move towards the Fed's 2% target.

Gold opened at around 2855 and rose to around 2876 at the highest and around 2855 at the lowest before press time.Pay attention to the resistance of 2990-2990-2910 If it fails to break through, it will test 2850-2840-2830