As of March 7, 2025, here's an updated overview of the recent performance and upcoming outlook for gold, silver, major forex pairs, and key U.S. stock indices.

Gold (XAU/USD)

Gold prices have experienced fluctuations this week, influenced by various economic factors. On Friday, spot gold remained steady at $2,911.00 per ounce and was poised for a weekly gain of 1.7%. This uptick is attributed to uncertainties surrounding U.S. President Donald Trump's tariff plans and anticipation of the U.S. non-farm payrolls data, which is expected to show an increase of 160,000 jobs for February.

Technical analysis suggests that while the price remains above the support level of $2,087.89, the uptrend is expected to continue. A trough formed at $2,277.20 on March 5, indicating potential gains toward resistances at $2,388.01 and possibly up to the major resistance at $2,434.35.

Silver (XAG/USD)

Silver prices have seen minor fluctuations this week. On Friday, spot silver fell by 0.1% to $32.58 per ounce. The market awaits the U.S. non-farm payrolls data release, which could influence silver's direction due to its industrial applications and sensitivity to economic indicators.

EUR/USD

The EUR/USD pair has been consolidating this week, trading just above the near-term support at 1.3575. This range-bound phase suggests that traders should look for buy signals from key support levels and sell signals from key resistance levels. If the pair fails to rally toward the key resistance near 1.3670, it could rotate back down toward the support area near 1.3500.

GBP/USD

The GBP/USD uptrend remains intact, although the pair has experienced slight consolidation this week. If the price moves down to support levels near 1.6990 or further to 1.6920, traders should watch for buy signals to rejoin the uptrend. The long-term trend remains bullish, and confirmation from support levels would provide opportunities to enter the market.

AUD/USD

The AUD/USD pair lost ground late last week after a false breakout above resistance near 0.9440. Currently trading within a range, a continued weakening could lead to a decline toward the bottom of the range. If the price tests the 0.9320 support level and it doesn't hold, a further fall toward 0.9200 is possible. Traders should monitor the price action near the 0.9320 support, as it could either bounce or stall before moving lower.

USD/CAD

The USD/CAD pair hit a key support level near 1.0620 late last week, forming a bullish fakey pattern on the daily chart. If prices remain above 1.0620 this week, further upward movement is possible. Traders can look for entry points above this level, keeping in mind that a move below 1.0620 could resume the downtrend.

Dow Jones Industrial Average (DJIA)

The DJIA experienced a significant selloff on Thursday, dropping by 1% and remaining 5.4% below its record high. This decline was driven by mounting concerns over President Donald Trump's tariff policies and their potential impact on the economy. Investors are advised to monitor upcoming economic data releases and trade developments, as these factors could influence the index's performance in the coming week.

Nasdaq Composite

The Nasdaq Composite entered correction territory this week, falling 2.6% on Thursday and marking a 10.4% decline from its December high. This downturn was influenced by trade tensions and disappointing revenue guidance from key technology companies. Investors should exercise caution, as further declines could occur if critical support levels are breached.

S&P 500

The S&P 500 dropped 1.8% on Thursday, trading near its crucial 200-day moving average. Analysts warn that breaching this support level could lead to further declines. Market participants should keep an eye on upcoming inflation data and Federal Reserve announcements, as these could impact the index's trajectory.

Conclusion

This week, gold has maintained its strength amid economic uncertainties, while silver has experienced minor fluctuations. Major forex pairs like EUR/USD and GBP/USD are in consolidation phases, presenting potential trading opportunities based on support and resistance levels. U.S. stock indices have faced significant declines due to trade tensions and economic concerns, highlighting the importance of monitoring upcoming data releases and geopolitical developments. Traders should remain vigilant and consider these factors when making investment decisions in the short term.