The Trump administration announced a 25% tariff on the EU. Additionally, it confirmed that a 25% tariff will also be applied to Canada and Mexico on April 2nd as planned. This has created uncertainty in the market.
In the U.S., there are concerns that these tariffs may slow down consumer spending, adding to overall market uncertainty. However, long-term U.S. interest rates are falling, which is helping to support gold prices.
Since investors are also selling to take profits before the U.S. PCE Deflator report this weekend, gold is expected to continue moving within a narrow price range.
Expected Gold/USD Price Range: 2930 – 2870
Note: The above information does not guarantee profits. Make your own decisions when trading.