Yesterday in New York, the U.S. June retail sales and new jobless claims were stronger than expected. Because of this, the U.S. dollar went up. People now think the Federal Reserve may not cut interest rates soon, so gold prices went down.
However, because of earlier concerns like the possible removal of Fed Chair Powell and the U.S. budget deficit, some people bought gold when the price dropped. This shows that many people still want to buy gold when prices are low.
Gold prices may stay in a range between 3,280 and 3,380 for a while. Changes may happen if President Trump says something important.
Expected Gold Price Range: 3,310 – 3,350 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.