The stock markets in Japan, the U.S., and Europe all fell at the same time. Because of this, investors wanted to avoid risk, and gold prices went up.
On the 4th, President Trump placed tariffs on Canada, Mexico, and China as planned. In response, these countries announced that they would also impose tariffs on U.S. goods. This raised concerns about negative effects on the global economy, causing stock markets to drop. As a result, investors moved their money into gold, which is considered a safe asset.
Meanwhile, Ukraine’s President Zelensky said he is ready to sign an agreement on natural resources and security. If negotiations with the U.S. move forward, the demand for safe assets may decrease, which could limit gold’s price increase.
Gold-Dollar Expected Range: 2940 – 2895
Note: The information above does not guarantee profit. Please make your own decisions when trading.