Last week, gold reached a new highest price and increased by more than $200 in just one month.
The U.S. government, under Trump, placed a 25% tariff on Mexico and Canada. Also, during the Federal Reserve (FOMC) meeting, a strong stance on interest rates was shown. This caused the U.S. dollar to rise, which temporarily slowed down gold’s price increase.
However, uncertainty caused by Trump’s policies creates risk, which can also lead to more buying of gold. Recently, gold has been moving similarly to the New York stock market. Since the start of this year, the NY Dow Index has risen a lot, pushing gold prices higher as well.
Gold has already gone up more than $200 in one month in 2025, which may mean it is overbought. Because of this, there is a chance for short-term selling (price correction).
This week, U.S. employment data will be released. If the results are strong, gold might see more selling. However, the overall trend of gold is still going up, so this could be a good chance for buying at lower prices.
Gold/Dollar Expected Range This Week: 2800 – 2778
Note: The information above does not guarantee profits. Please make your own decisions when trading.