U.S. long-term interest rates briefly fell due to concerns over tariffs under the Trump administration but later started rising again, leading to stronger selling of gold. Trump denied reports that his administration would impose tariffs on some key items. This raised concerns about renewed inflation, causing U.S. interest rates to rise. Future developments related to tariffs are expected to continue affecting gold.
However, with the U.S. jobs report set to be released this weekend, further increases in U.S. dollar interest rates are likely, which could keep gold prices under pressure.
Gold-Dollar Predicted Range: 2640 – 2610
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