Gold prices rose to a new high of $2,925 as selling of the US dollar started in the Tokyo market. However, due to concerns about the high price, some investors sold to take profits, causing the price to fall slightly to $2,924.
Since gold has been hitting new highs for several days, and today is the weekend, more profit-taking is expected. Still, gold remains attractive to investors because of ongoing uncertainties like the situation in Ukraine and tariffs related to President Trump.
The $2,878 level, which was this week’s low, is seen as strong support.
Gold Price Forecast Range: $2,950 – $2,915
Note: This information does not guarantee any profits. Make your own decisions when trading.