Gold (XAU/USD) had been reaching new highs because of uncertainty about US tariffs set by President Trump. However, last week, people started to expect positive results from the US-China trade talks during a 90-day pause in new tariffs. As a result, many investors sold gold to take profits. At the same time, global stock markets went up together, which made investors more willing to take risks. This also caused the gold price to go down.
Still, the trade talks are just starting, and many people are still worried about the negative effects of tariffs on the global economy. So, the situation remains unclear.
There is an important meeting in the US this week, where the central bank is expected not to lower interest rates. But many experts think that rate cuts might start again from June. This is good news for gold because gold does not pay interest, so it becomes more attractive when interest rates are low.
In the short term, gold may still face selling pressure from people taking profits. However, the long-term trend is still going up. It is important to watch for good chances to buy when the price goes down.
Expected Gold to Dollar Range: 3160-3330
Note: This information does not guarantee any profits. Please make your own decisions when trading.