Gold prices went up during the Tokyo trading session after news that Israel may be planning to attack Iran’s nuclear facilities. This news increased geopolitical risks, which made gold prices rise.
Also, in the New York market, the 20-year U.S. government bond auction had poor results. At the same time, all three major stock indexes dropped a lot, and the U.S. dollar became weaker. These three negative events together pushed gold prices up.
However, some people started selling to take profits when the price got higher. So, the speed of the price increase is slowing down. There is also a risk that prices might fall again, so people should be careful.
Gold/Dollar Expected Range: 3295 – 3370 USD
Note: The above is not a guarantee of profit. Please make your own decisions when trading.