Yesterday, early in the Tokyo session, President Trump announced that the United States and Japan agreed on tariffs of 15%. This news reduced market worries. The Nikkei stock index went up a lot, and stock markets in the US and Europe also hit new highs. Because of this “risk-on” mood (people are willing to take more risks), the price of gold went down.
Gold had gone up close to this year’s highest price, reaching 3,438. But then it started to fall and dropped to 3,381. Many people decided to sell and take profits, so the price dropped. This selling may continue today.
However, talks about tariffs are still going on. After the selling stops, people might start buying gold again.
Gold/USD Expected Range: 3,370 – 3,405 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.