President Trump announced an increase in tariffs on Canada from 25% to 50%. In response, Canada raised export electricity prices to the U.S. by 25%. This trade conflict raised concerns about a global economic slowdown, causing stock prices to fall. As a result, the U.S. dollar weakened, and gold prices rebounded for the first time in three days.
However, Ukraine expressed willingness to agree to a ceasefire. This reduced geopolitical risks, which limited gold’s price increase.
As President Trump’s statements keep changing, the market remains unstable. Despite this, gold continues to show strong support.
Gold-Dollar Expected Range: 2930 – 2895
Note: The above information does not guarantee profits. Please make your own trading decisions