Last weekend, the U.S. jobs report showed that the labor market is strong. Because of this, U.S. long-term interest rates went up. Before the report, interest rates had gone down, but after the report, they rose again. Gold also hit a new record high for a short time, but then its price dropped.
This week, former President Trump is expected to introduce new tariffs. Because of this, the market remains uncertain. Many investors are still buying gold as a safe investment.
However, the U.S. Consumer Price Index (CPI) will be released this week. If the data shows inflation is rising, interest rates may go up, and stock prices may fall. This could cause a temporary drop in gold prices.
Even with these short-term changes, the overall trend for gold is still upward. Investors should look for opportunities to buy when the price goes down.
This week’s expected gold price range: 2,880 – 2,810
Note: This analysis does not guarantee profit. Make your own decisions when trading.