Guardian Weekly Market Report – Issue 159
Issue 159 – The Week of March 10, 2025
Key Resistance and Supports this Week
Gold
| Support | Resistance |
|---|---|
| 2880.00 | 2933.00 |
| 2837.00 | 2967.00 |
| 2782.00 | 3000.00 |
| 2756.00 | 3035.00 |
Silver
| Support | Resistance |
|---|---|
| 31.90 | 33.10 |
| 31.00 | 34.20 |
| 30.00 | 35.35 |
| 29.00 | 36.25 |
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Reports of Note Due This Week
The latest Consumer Price Index is due on Wednesday and the Producer Price Index on Thursday. These will help indicate how inflation is acting. Jobs data and consumer sentiment are also scheduled for release this week.
- Monday, Mar 10 – None scheduled.
- Tuesday Mar 11 – 6:00 A.M. NFIB optimism index. 10:00 A.M. Job openings
- Wednesday Mar 12 – 8:30 A.M. Consumer price index (CPI) for February and Core CPI. 2:00 P.M. Monthly U.S. federal budget.
- Thursday Mar 13 – 8:30 A.M. the Weekly Initial Jobless Claims expected at 220.000 versus last weeks 221,000, Producer price index (PPI) and Core PPI.
- Friday Mar14 – 10:00 A.M Consumer sentiment (prelim).
Geopolitics
Trade tensions have escalated as China and Canada announced new tariffs in response to the U.S.’s imposition of a 25% tariff on goods from these countries. China is imposing tariffs up to 15% on various U.S. products, and Canada has declared tariffs up to 25%. This retaliation follows U.S. measures that also affected goods from Mexico, contributing to a significant disruption in trade relations among these nations. The actions are expected to impact a range of sectors, including agriculture and manufacturing, compounding global market instability.
President Donald Trump announced that Taiwan Semiconductor Manufacturing Company (TSMC) will invest $100 billion in the U.S. to enhance chip manufacturing. This investment will fund the construction of five new fabrication facilities in Arizona, increasing TSMC’s total U.S. investment to $165 billion. This move aligns with Trump’s initiatives to bolster the U.S. as a hub for artificial intelligence and semiconductor production, citing economic and national security reasons. The announcement supports Trump’s efforts to repatriate semiconductor manufacturing to the U.S.
Israel cut off electricity to Gaza, affecting a desalination plant and escalating tensions. This action follows Israel’s suspension of goods, demanding that Hamas extend the ceasefire and release more hostages. In response, Hamas seeks to discuss more complex ceasefire terms. The cutoff has been criticized internationally, with allegations that it amounts to collective punishment and violates international law. The situation remains tense as both sides continue to negotiate.
President Donald Trump is considering revising U.S. involvement in NATO to prioritize countries that meet specific defense spending thresholds. This could involve the U.S. not defending NATO members under attack if they do not meet these spending requirements. Trump’s administration has hinted at reducing the U.S. military presence in Europe and focusing on countries that allocate a set percentage of their GDP to defense. This proposed policy shift represents a significant departure from the foundational NATO principle that an attack on one member is an attack on all, known as Article 5.
The Call
We are bullish on gold this week with all the resilience it has demonstrated lately. A test of the all-time high 2975.00 and up to 3000.00 on the upside for the yellow metal with a small sell off down towards 2850.00 is within our weekly range on the call. The stock market jitters, concerns over inflation and political instability are reasons that traders are still investing in gold at these levels.
Last Week in Review
The April gold contract opened Sunday evening at 2872.00 and rallied up to make the weekly high of 2941.20 on Wednesday lunchtime. Gold traded in a narrow 30.00 range of 2910.00 to 2940.00 from Tuesday to Friday closing Friday afternoon at 2917.60. Stock market jitters, tariffs and inflation concerns had gold firmly supported above 2900.00 most of the week.
- The U.S. Dollar Index was much weaker this week and finished at 103.84.
- The Gold/Silver Ratio was stronger this week at 89.6 ounces of silver for 1 ounce of gold.
Last Week’s Price Ranges
| Market | Gold | Silver |
|---|---|---|
| Open | 2858.00 | 31.33 |
| High | 2929.20 | 33.00 |
| Low | 2858.00 | 31.25 |
| Close | 2911.00 | 32.53 |
The information contained in this report is intended to provide market commentary and not as a recommendation or as a basis for investment decisions. The views expressed herein are the author’s and may differ from the views of others at Guardian International Gold. Guardian International Gold is a trader of Precious metals and this communication is to be considered an invitation to trade. Guardian International Gold makes our best effort to communicate reliable information but no express or implied warranty or representation as to its accuracy, completeness, or correctness may be taken.
