Early in the Tokyo trading hours, news reported that a ceasefire agreement had been reached between Iran and Israel, supported by President Trump. This news lowered worries about war, so many people sold gold, which is a safe asset, and the gold price dropped below 3,300.
However, just after the agreement, Israel said that Iran attacked them again and they responded. This means the situation is still not stable.
At the end of last week, the U.S. attacked Iran, which increased worries quickly. But only a few days later, there was a ceasefire. These fast changes are hard to predict.
Still, people believe that the worst has been avoided, and gold prices may not go up much for now.
Gold-Dollar expected range: 3,290 – 3,340
Note: This information does not guarantee profits. Please make your own decisions when trading.