The New York stock market saw a big drop in all three major indexes. This happened because people are worried that Trump’s tariffs will slow down the global economy.
Last weekend, in an interview with FOX News, President Trump suggested that a recession caused by tariffs might be acceptable. This statement made investors nervous, leading to a sell-off in stocks. At one point, the Dow Jones Industrial Average fell more than 1,000 points, showing a strong ‘risk-off’ movement (when investors move away from risky assets).
In the past, when investors avoided risk, they bought gold, making its price go up. However, recently, gold prices have been moving in the same direction as stocks. This suggests that the flow of money may have changed.
Right now, some investors are selling gold to take profits after its recent rise. However, gold is still considered a safe asset. Once the market adjusts and investors finish repositioning, gold is expected to return to an upward trend.
Gold-Dollar Expected Price Range: 2895 – 2870
Note: The above information does not guarantee profits. Please make your own decisions when trading.