Gold steadies as markets await US‑Iran nuclear talks, Tariff news in focus

Market participants are closely watching diplomatic developments as U.S. and Iranian officials renewed talks in Geneva on Tehran’s nuclear program.
US and Iran to hold talks in Geneva later in the day; Iran seeks to separate nuclear and non‑nuclear issues.
U.S. tariffs for some countries to rise to 15%, says Greer.
Initial jobless claims rose by 4,000 to a seasonally adjusted 212,000 for the week ended Feb. 21.
Markets still anticipate two Fed rate cuts this year.
Silver fell 2.65% to $86.85 per ounce.

Ali Merchant, CMT TwT Learning

Gold held steady Thursday as investors awaited the third round of indirect U.S.–Iran talks in Geneva for signs of easing geopolitical tensions.

Spot gold was up 0.2% at $5,173.65/oz at 12:47 pm ET (1747 GMT; U.S. April gold futures were down 0.3% at $5,190.70.

U.S. tariff rates for some countries will rise to 15% or higher from the newly imposed 10%, U.S. Trade Representative Jamieson Greer said Wednesday, without naming specific trading partners or providing further details.

CME FedWatch:

Current Target Rate = 3.50 - 3.75

· CME FedWatch March no rate change probabilities have moved higher to 96% today from 84.6% on January 26, 2025.

Technical analysis perspective:

Gold / US Dollar:

· Gold is challenging a nearby resistance around $5,200 - $5,250.

· Prices are in a consolidation phase before rolling higher $5,300.

· A dip to $5,110 to $5,086 is likely before a rally.

· A sustain move below $5,086 would negate the upside outlook.

Gold 4 hourly chart:

Gold/Silver Ratio:

· The gold–silver ratio measures how many ounces of silver are needed to buy one ounce of gold (gold price ÷ silver price), a key gauge of relative value and potential moves.

· It is back to 59.60% after hitting 72.60% early February.

Gold/Silver Ratio Monthly chart:

Author

Ali Merchant, CMT

TwT Learning

Ali Merchant is a seasoned financial market professional with expertise in Technical Analysis, Treasury & Capital Markets, Trading, Sales, Research, Training, & Fund Management, He has been trading FX, FX options, US stock

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