March 5, 2026 Spot Gold Evening Analysis

The market surged to 5195 in the early session but faced resistance and pulled back, with a low of 5120. It then entered a corrective oscillation and consolidation phase, with the battle between bulls and bears intensifying. During the day, it first hit a high and was pressured, then sharply declined to a bottom, finally stabilizing at a low level. The entire day saw wide-range tug-of-war without a clear directional trend.

There are no major data releases tonight; the market is waiting for tomorrow’s non-farm payroll report to set the tone. U.S. employment data is somewhat strong, leading the market to bet on a delayed Federal Reserve rate cut, which suppresses gold prices. However, geopolitical risk in the Middle East remains, and funds are entering near 5120 for a bottom-fishing move, making it difficult for the bears to continue a large decline. The market is temporarily balanced between bulls and bears, mainly oscillating and waiting for the data to be released.

Core range: 5120—5200. 5120 is a strong short-term support; breaking below could open the downside space. 5195—5205 is a strong resistance; if it cannot break through, the market will continue to oscillate. Currently, indicators are neutral, indicating a recovery and consolidation after a sharp decline. Avoid chasing highs or panicking at lows.

Evening trading strategy: If the price stabilizes around 5120—5140 after a pullback, consider light long positions with a stop loss at 5110, targeting 5180—5200—5220 levels. Before the non-farm payroll report, focus on range-bound trading, entering and exiting quickly, strictly using stop losses, and avoid heavy positions or holding through large swings.

The above is only personal advice for reference and does not constitute investment guidance. Please follow Cheng Jingsheng Shi Pan’s layout for specific strategies!!$XAU ‌#XAU