

Daily Global Market Update: March 10, 2025

Gold: Slipping Below $2,900 Gold prices have dipped below the $2,900 mark, pressured by a rebound in the US Dollar from its multi-month lows. Despite this decline, gold remains confined within a familiar trading range above $2,900, suggesting a tug-of-war between bearish USD-driven momentum and its safe-haven appeal. Investors are monitoring whether this pullback signals a broader correction or a temporary setback, with global economic cues and USD strength likely to dictate the next move. AUD/JPY: Struggling Below 93.50 The Australian Dollar (AUD) against the Japanese Yen (JPY) is holding below the 93.50 level after trimming some of its recent losses. This pair’s subdued performance reflects a cautious market mood, with the AUD unable to sustain upward momentum amid a resurgent USD and lingering uncertainties. Traders are eyeing potential support levels, as a failure to reclaim 93.50 could reinforce bearish sentiment in the near term. Pound Sterling: Steady Amid US Concerns The Pound Sterling (GBP) continues to hold onto gains against the US Dollar, buoyed by growing concerns over the US economic outlook. Despite the USD’s rebound, GBP/USD remains resilient, with market participants seemingly more focused on weakening US fundamentals than the Dollar’s short-term recovery. This dynamic suggests that Sterling could maintain its edge unless US data surprises to the upside in the coming days. Silver: Breaking Key Support Silver (XAG/USD) has broken below the $32.50 level, with its next support appearing near the nine-day Exponential Moving Average (EMA). This breach highlights silver’s vulnerability to the USD’s newfound strength, though the proximity to the EMA offers a potential floor for prices. The white metal’s direction will likely hinge on whether this support holds or if further downside pressure emerges, driven by broader market trends. Broader Market Context The financial markets on March 10, 2025, reflect a nuanced interplay of forces. The US Dollar’s rebound from multi-month lows is exerting downward pressure on precious metals like gold and silver, while currency pairs such as AUD/JPY struggle to regain traction. Meanwhile, the Pound Sterling’s steadfastness underscores a market increasingly wary of the US economic trajectory, even as the USD shows signs of life. The absence of major data releases today leaves technical levels and sentiment as key drivers. In summary, March 10, 2025, sees the US Dollar’s recovery shaping market dynamics, pushing gold and silver lower while challenging risk-sensitive pairs like AUD/JPY. The Pound Sterling stands out as a bastion of strength amid US-focused concerns. Investors should watch for USD momentum and key technical thresholds, as these will likely determine whether current trends deepen or reverse in the days ahead.

Learn more

Publication date:

2025-03-10 10:24:18 (GMT)

The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.