On Friday (March 28) in the Asian market, spot gold suddenly accelerated its rise, breaking through $3,077/ounce, and rising by more than $20 a day. On Thursday, as Trump's announcement of new auto tariffs triggered trade tensions around the world and caused a sharp drop in the stock market, investors fled to safe haven assets, and the spot gold price closed up $37.50.

On this trading day, the United States will release the February personal consumption expenditures (PCE) price index, which is an inflation indicator that the Federal Reserve is concerned about. The U.S. core PCE price index is expected to increase by 2.7% year-on-year in February, slightly higher than 2.6% in January. If the PCE inflation data is mild, it may strengthen the Federal Reserve's conservative stance and continue to support gold.

From the daily level of spot gold, as the market is waiting for the release of the PCE price index in the evening, the current trend of gold prices is not drastic, and the fluctuation range is still hovering slightly above the 3000 line, which may lead to the price seeking support protection from MA20 in the later period, and it is still around 2980. In addition, the dead cross of the MACD indicator should still be guarded against, so the signal of top divergence may affect the continuation rhythm of the upward trend.

From the 4-hour level of spot gold, although the gold price once broke through the historical record of 3050 last week, it did not continue to open up space, but made a high correction this week, so it gradually entered the overall trend of the triangle. At present, the short-term moving average group is basically glued together, and the MACD indicator has returned to the vicinity of the 0 axis, which means that the competition between long and short positions is temporarily deadlocked, so it is recommended to keep selling high and buying low in terms of operation. Pressure: 3060-3070-3080 Support: 3045-3030-3020.

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.