At the beginning of this week, gold prices went up in the Tokyo market because the United States suddenly attacked Iran’s nuclear facilities. After that, prices dropped for a short time, but when Mr. Bowman, the Chairman of the Federal Reserve, said there is a chance to lower interest rates in the July meeting, gold prices went up again. This is because gold does not give interest, so lower interest rates make gold more attractive.
Later in the New York market, gold prices rose again when the news said Iran attacked a US military base in Qatar. But after that, reports said Iran gave advance warning about the attack, and President Trump did not want more military actions. Because of this, people felt less worried about the Middle East situation.
Even though the situation is not fully safe yet, many people now think the worst situation may not happen. So, gold prices may not go up a lot for now.
Gold/Dollar expected price range: 3,325 – 3,390
Note: The above information does not guarantee profit. Please make your own decisions when trading.