Yesterday, the U.S. Consumer Price Index (CPI) for June was announced. It was 2.7%, higher than the expected 2.6%. Because of this, people now think the U.S. central bank (Federal Reserve) may not cut interest rates soon. The U.S. dollar became stronger, and gold prices went down again.
Also, Nvidia started selling computer chips to China again. This news made the market feel safer, which also pushed gold prices lower.
However, President Trump said the U.S. CPI is still low and that the central bank should cut rates now. This kind of political pressure can make people trust the dollar less.
There are also worries about the U.S. government spending too much money. These concerns make some people want to buy safe assets like gold. Because of this, gold prices may not fall much more and could stay between certain levels for a while.
Expected Range for Gold/Dollar: 3,310 – 3,350 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.