President Trump has raised tariffs on Chinese goods up to 145%. In response, China has also increased tariffs on U.S. goods from 84% to 125%. This trade war is getting more serious, and people are worried about the world economy. Because of that, the prices of stocks, bonds, and the U.S. dollar have become unstable, and many investors are buying gold for safety.
At first, some investors sold gold to cover losses in the stock market. But after big ups and downs in the stock market, gold prices started to rise. Many believe that the U.S. economy, which started the tariff war, will be affected the most. This made the U.S. dollar weaker, and gold became popular again as a safe choice.
This week, a 90-day negotiation period is starting, and that might reduce risk for a while. So, there may be times when people sell gold. However, the conflict between the U.S. and China is getting worse, and if the talks do not go well, gold prices may continue to rise as people try to avoid risk.
Expected Gold Price Range This Week (in USD): 3,300 – 3,100
Note: This information is not a guarantee of profit. Please make your own decisions when trading.