In the European market yesterday, when U.S. long-term interest rates fell, the dollar weakened across the board, which led to increased gold selling. As the price dropped below the previous day’s low of 2650, more stop-loss orders were triggered, briefly pushing the price below 2600. Although some buybacks occurred, the price ultimately closed below 2600.
The new U.S. administration, led by Trump, is expected to introduce tax cuts and tariffs, which could increase inflation. This outlook encourages buying the dollar and selling gold. However, with the U.S. CPI (Consumer Price Index) data coming up today, some short-term buybacks for gold may occur, but any price rise is expected to be limited.
Expected Gold-USD Range: 2625–2573
Note: The above information does not guarantee profits. Please make your own decisions when trading.