Gold reached a new all-time high last week, supported by geopolitical risks like the situation in Ukraine due to Trump’s policies and uncertainties about the global economy. U.S. long-term interest rates dropped by 0.05%, which encouraged more buying of gold. However, the NY Dow Jones dropped by 118 points, showing a clear link between stock prices and gold, which limited gold’s rise.
The impact of Trump’s tariffs on the global economy remains unclear, and there is still no progress in U.S.-Russia talks to end the Ukraine conflict. Because of these uncertainties, investors are likely to keep buying gold this week.
However, gold has started to move away from the upper limit of the Bollinger Bands, suggesting that the fast upward trend may slow down.
Gold/USD Forecast Range This Week: 2990 – 2810
Note: This information does not guarantee profits. Make your own decisions when trading.