Yesterday’s ADP jobs report showed weaker results than expected. Because of this, people think today’s official jobs report will also be weak. The U.S. dollar fell, and gold prices went up for the third day in a row.
Many believe the U.S. central bank might lower interest rates soon. Also, there are concerns about the U.S. government’s big tax cuts causing more debt. These reasons are making people continue to buy gold.
However, tomorrow is U.S. Independence Day, and markets will be closed for a few days. So, after prices go up, some people might sell to adjust their positions. Please be careful.
Gold and Dollar Expected Price Range: 3,320 – 3,370
Note: This information does not guarantee profits. Please make your own decisions when trading.