Gold prices hit a new high as investors bought gold for safety (risk-off) after talks between the U.S. and Russia about ending the Ukraine war made no progress.
Although the FOMC meeting minutes showed a cautious stance on interest rate cuts, the rise in U.S. long-term interest rates has paused. This led to some profit-taking, causing gold prices to pull back.
However, even though a future U.S.-Russia summit is expected, many believe ending the war will take time. This view supports continued safe-haven buying of gold.
Gold/USD Expected Range: 2950 – 2910
Note: This information does not guarantee profits. Make your own decisions when trading.