Gold prices started strong after hitting a recent bottom, supported by new buying. However, prices turned lower again when long-term U.S. interest rates went up.
Because of ongoing concerns about trade tariffs, both U.S. and Japanese stock markets are moving in an unstable way. As a result, some investors are selling gold to cover their stock market losses.
At 1:00 PM today (Tokyo time), a new tariff of 104% is expected to be applied to China. If the stock market falls sharply after this, it could lead to even more gold selling.
XAU/USD Forecast Range: 3035 – 2940
Note: This information is not a guarantee of profit. Please make your own decisions when trading.