During the Tokyo trading session, President Trump introduced new tariffs. Because of this, stock prices in Japan and Europe dropped quickly. The U.S. stock market also went down, and many people sold gold to make up for their stock losses.
However, later on, President Trump announced that he would pause the new tariffs for 90 days for countries and regions that did not take revenge with their own tariffs. After this news, the U.S. stock market went up strongly. The U.S. dollar also had its biggest one-day gain ever.
Because gold prices had dropped earlier when stocks fell, the rebound in stocks caused people to start buying gold again, and gold prices went up.
Now that the fear of a trade war is smaller, the stock market may stay more stable for a while. Gold prices may rise again and aim for a new all-time high.
Gold/Dollar Expected Price Range: 3,150 to 3,040
Note: This information is not a guarantee of profit. Please make your own decisions when trading.