Yesterday, gold prices fell in the Tokyo market. However, during the European Central Bank (ECB) meeting, the euro strengthened, causing the U.S. dollar to weaken. As a result, gold prices rebounded.
Later, President Trump announced that the tariffs related to the U.S-Mexico-Canada Agreement (USMCA) agreement would be delayed until April 2. This news brought a sense of relief to the market, limiting gold’s rise. However, because President Trump’s statements often change, uncertainty increased. The New York stock market saw a significant drop in all three major indexes, which helped stop gold from falling further.
The market is finding it difficult to determine direction due to Trump’s comments. Today, the U.S. employment report will be released. No matter the result, market volatility is expected to increase. In the end, gold is likely to remain stable.
Gold & Dollar Price Range Forecast: 2930 – 2890
Note: The above information does not guarantee profits. Please make your own decisions when trading.