العربية
EnglishCopyright 2026 www.goldpricesaudi.com
Monday, 9 March 2026
Gold prices started the week under mild pressure after failing to break the $5,112 pivot level, while still holding above a bullish trendline. Markets remain focused on geopolitical developments and energy prices.
Gold prices opened the week slightly lower after failing to break above the daily pivot level at $5,112 per ounce.
Despite the early weakness, the metal continues to trade above a bullish trendline on the short-term charts, suggesting that the broader upward structure remains intact.
The nearest resistance levels are located at $5,189 followed by $5,246, which represent key barriers for the next bullish move.
On the downside, immediate support appears at $5,005 and then $4,940 per ounce. A break below these levels could trigger a deeper correction.
As long as gold remains above the ascending trendline, the short-term outlook continues to favor consolidation within a bullish framework.
Gold markets are currently influenced by a mix of geopolitical tensions and macroeconomic developments.
Brent crude oil surged nearly 15% to reach around $114 per barrel, reflecting growing supply concerns and escalating geopolitical risks.
The U.S. dollar index remained near three-month highs, limiting some of gold’s upside momentum.
Meanwhile, the U.S. labor market delivered unexpectedly weak data, increasing uncertainty around the economic outlook and monetary policy expectations.
Markets are closely monitoring updates related to tensions between the United States and Iran, which could influence global risk sentiment and safe-haven demand.