The announcement of new tariffs was stricter than expected. This caused growing uncertainty about the future, and stock markets were shaken. The Nikkei Index dropped by almost 1,000 points, and the Dow Jones fell by nearly 1,700 dollars. Because of this risk, many investors started buying gold, which is seen as a safe place to keep money. As a result, gold reached a record high.
However, as the markets continue to move in unstable ways, some investors are now selling gold to take profits, which has pushed the price down again. There is also a chance that the trade war (with more tariffs from both sides) could become more serious. If that happens, the trend of buying gold as a safe asset may continue.
Gold-Dollar Expected Price Range: 3,140 to 3,060 (61.8%)
Note: The above information does not guarantee profit. Please make your own decisions when trading.