Gold prices were stuck and didn’t rise much recently, as worries about the Middle East became weaker. But yesterday, gold prices went up again.
U.S. Treasury Secretary Bessent said that inflation is very low and that interest rates are expected to go down. She also said that they will decide on the next Federal Reserve (FRB) Chairperson in the coming weeks or months. She added that tariffs are not causing inflation.
Also, President Trump said that the current FRB Chair, Mr. Powell, should make a big interest rate cut. Because of this, U.S. interest rates went down. When interest rates go down, gold becomes more attractive because it does not pay interest. So more people bought gold.
However, the New York stock market went up for three days in a row, and people became more open to risk. This limited how much gold prices could rise.
Expected gold price range: 3,320 – 3,280
Note: This information does not guarantee profits. Please make your own decisions when trading.