Last week, many investors bought gold because they were worried about new tariffs, which made the market more cautious. But early this week, during Tokyo’s morning trading, President Trump said the 50% tariff on the EU will be extended until July 9. This announcement helped reduce market fears, and the price of gold went down.
On this day, markets in London and New York were closed, so there was not much movement in gold prices after that.
However, the market is still uncertain because Trump often changes his statements. Also, European Central Bank President Lagarde said there is even some uncertainty about the US dollar’s strong position in the world. Germany’s central bank president Nagel also said that the tariffs could hurt the US economy even more. These comments made people worry more about the strength of the US dollar.
Because of these concerns, gold prices stayed stable and strong overall.
Expected Gold/USD Price Range: 3310 – 3350 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.