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Precious Metals Preview: COMEX gold stays firmly above $2900 mark
06-Mar-2025 08:39

Gold prices stay firm around a one-week high above $2900 mark on Thursday morning in Asia on safe haven demand amid ongoing trade war concerns. New US tariffs on Canada, Mexico, and China have led to retaliatory measures from those countries, raising concerns of an escalating trade war that could impede US economic growth. Meanwhile, US ADP National Employment Change report showed that US private sector hiring increased by 77K in February, significantly missing the 140K forecast and falling well below January's strong 186K gain. Traders will now be eyeing Friday's release of February's Nonfarm Payrolls figures. Currently, COMEX gold futures are quoting at $2934.80 an ounce, up 0.30% on the day.

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