The Trump administration decided last weekend to impose a 25% tariff on Mexico and Canada. Because of this, gold prices fell at the beginning of the week. However, when news came out that the tariff on Mexico would be delayed by one month, the U.S. dollar weakened, and gold prices went up. At the same time, the New York stock market also fell, which pushed gold prices back down by the end of the day.
Gold prices are expected to remain volatile because of the Trump administration’s tariff policies. Many investors may continue to buy gold as a safe investment during uncertain times
Gold/Dollar Expected Range: 2830 – 2792
Please note: The above information does not guarantee any profit. Please make your own decisions when trading.