The market reacted strongly when President Trump announced a 25% tariff on automobiles. This caused uncertainty, leading investors to buy more gold as a safe asset. During New York trading hours, gold reached a new record high, showing that money is flowing into gold again.
Today, the U.S. will release the February Personal Consumption Expenditures (PCE) Deflator report, which measures inflation. If the report shows high inflation, U.S. long-term interest rates may rise, which could push gold prices down. However, because of the uncertainty surrounding President Trump, any drop in gold prices may be temporary.
Expected Gold-Dollar Price Range: 3060 – 3038
Note: The above information does not guarantee profits. Make your own decisions when trading.