Gold went up the day before because the U.S. dollar, stocks, and bonds all went down (this is called “triple weakness”). But yesterday, this rise in gold paused. As a result, gold started to go down again because the dollar and stock prices moved back up.
However, in New York yesterday, the U.S. House of Representatives passed a big tax cut bill. This caused some worry about the country’s financial situation, so gold did not fall too much.
Today is the end of the week (Friday), so gold might fall more. But the price around $3,200 is a strong support level, meaning it might not fall below that easily.
Gold-Dollar Expected Price Range: $3,260 – $3,330
Note: This is not a guarantee of profit. Please make your own decisions when trading.