Yesterday, the US February Consumer Price Index (CPI) was lower than expected. As a result, US long-term interest rates fell. At first, gold prices dropped quickly, but they recovered soon after.
Meanwhile, the trade war is becoming more intense due to Trump’s tariffs. This has increased demand for gold as a safe investment. However, Ukraine has agreed to a temporary ceasefire, reducing geopolitical risks. This is keeping gold prices from rising too much. Because of these mixed factors, the market direction is unclear.
Still, most of the selling pressure due to price adjustments has already ended. It is only a matter of time before gold reaches a new highest price.
Gold-Dollar Expected Range: 2950–2910
Note: This information does not guarantee profits. Please make your own decisions when trading.