As the fighting between Israel and Iran becomes more serious, President Trump has also shown his intention to join the conflict. He left the G7 meeting early and returned home, which shows that the situation is very tense.
However, there are still hopes in the market that high-level talks might be held within this week. Because of this, some traders are selling to take profits when the price goes up.
Until the United States actually goes to war with Iran, it seems that the price will have a hard time rising strongly.
Gold/USD Expected Range: 3370 – 3430
Please note: The above is not a guarantee of profit. Make your own decisions when trading.