The day before, President Trump announced a 90-day stop to raising tariffs, and stock prices went up a lot. However, yesterday, stock prices fell again. The US raised tariffs on Chinese goods to 145%, and China also raised tariffs on US goods to 84%. This made people worry more about the US-China trade war, and that caused stock prices to fall. Because of this, many people bought gold as a safe investment.
Also, people are worried that the US economy might slow down and prices might go up at the same time. This worry made the US dollar weaker, which also helped gold prices go up.
But if the stock market keeps falling and investors try to make up for their losses, they might sell gold to get cash. That could cause gold prices to fall again.
Gold to US Dollar Expected Range: 3200 – 3030
Note: This information does not promise profits. Please make your own decisions when trading.