Gold prices rose sharply due to two main reasons: renewed concerns about U.S.-China trade tensions and increased geopolitical risks after Ukraine attacked Russia. The U.S. dollar also weakened, which helped push gold prices higher.
President Trump said he plans to talk with Chinese President Xi Jinping this week. If they reach a new agreement, gold prices might fall again.
However, until then, the market is expected to stay uncertain, and gold prices will likely remain strong.
Expected Gold/USD Price Range: 3,210 – 3,360 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.