On the 2nd, the tariffs announced by Trump were much stricter than expected, and this caused a big shock in the market.
Now, people are worried that a trade war may start because of possible retaliatory tariffs. This could hurt the world economy, and stock prices around the world are falling. Because of this, more people are trying to avoid risk.
Usually, when the market is risky, people buy gold because it is seen as safe. But this time, something different happened. Many people had losses from falling stock prices, so they sold gold to take profits and cover those losses. This is likely why gold went down.
However, this situation may only last a short time. Once the market becomes calm again, gold may go up in price again.
We think this could be a good chance to look for a buying opportunity.
This week’s forecast for Gold/USD: 3,135 – 2,960
Note: This information is not a guarantee of profit. Make your own decisions when trading.