After reaching a new record high, gold stayed strong.
Yesterday, the U.S. job openings report for August was weaker than expected. Because of this, people think the Federal Reserve may cut interest rates, and U.S. long-term interest rates went down. Gold went up to a record high of 3578, but then some traders sold to take profits, and the price pulled back.
Tomorrow, the important U.S. jobs report will be released. Some traders may sell to adjust their positions before this. However, many buyers still feel they are behind, so buying on dips is likely to support the price.
Gold-Dollar expected range: 3,540 – 3,570 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.