Last week, Israel asked President Trump to agree to a quick stop to fighting with Iran. Because of this, President Trump left the G7 meeting and returned to the US early. This made people feel safe, so many sold gold first. But when more people thought the US might attack Iran, they bought US dollars for safety, and the gold price did not fall much.
Later, President Trump said things like ‘We may not need to attack Iran’ and ‘We will decide about Iran in two weeks.’ These words made people feel calm again, so gold was sold.
However, yesterday the US finally attacked Iran. This means the risk in the Middle East is high again from the start of this week. People are likely to keep buying gold when they feel there is danger.
This week’s expected price range for gold: 3,330 – 3,410
Note: This information does not guarantee profits. Please make your own decisions when trading.