Gold prices moved in a narrow range recently. The U.S. dollar had dropped sharply the day before, but yesterday, it recovered. As a result, gold prices went down. This shows that the market is currently in a wait-and-see mode.
Tomorrow is May Day, so markets in Europe and the U.S. will be closed. Japan is also starting its Golden Week holidays. Because of this, market activity is expected to be low, and gold may not move much.
However, there are some concerns in the background. Trade talks between the U.S. and China are not going well, and investors are feeling uncertain. Also, the U.S. jobs report will be released this weekend, which is a big event for the market.This situation may be the “calm before the storm.“
Expected gold-dollar price range: 3340 (38.2%) to 3300
Note: This information does not guarantee profits. Please make your own decisions when trading.