Last week, gold prices dropped as investors took profits due to concerns about high prices. Unlike before, gold did not move in the same direction as the New York stock market.
Usually, when risk increases, people buy gold as a safe investment. However, this pattern has not been seen recently. Still, gold is a trusted asset, just like the US dollar. If geopolitical risks increase, people tend to buy gold.
The peace talks between US President Donald Trump and Ukrainian President Volodymyr Zelensky failed. This increases uncertainty about the Ukraine situation. In addition, the possibility of new trade tariffs from Trump adds more uncertainty. Because of these risks, demand for gold is expected to rise.
After the recent selling ends, gold prices are likely to go up again. This drop in price may be a good opportunity to buy gold at a lower price.
Expected Gold Price Range This Week: 2,900 – 2,810 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.