Gold initially dropped due to a reaction from the previous day’s rise. However, during the New York session, President Trump stated that he plans to ask the Federal Reserve (FRB) to “immediately cut interest rates.” He also mentioned that “interest rates should be lowered worldwide,” which supported gold prices since gold does not yield interest.
If the price clearly breaks above the previous day’s high of 2763, it may test the October high of 2790 again.
Gold-Dollar Expected Range: 2765–2735
Note: The above content does not guarantee profits. Please make your own decisions when trading.