
There was news that the United States and China have reached a trade agreement. Because of this, the market felt more safe and relaxed, so the price of gold went down.
However, later the US May CPI (Consumer Price Index) was announced. The result was lower than expected compared to the previous month. This made people less worried about high inflation.
Because of this, long-term interest rates in the US also went down, and gold prices went back up and finished higher.
Even though the US and China agreed, some tariffs (import taxes) are still in place. This means future negotiations may still be difficult. Because of this risk, gold prices are expected to stay strong and not fall too much.
Gold/USD Forecast Range: 3320 – 3380
Note: The above information does not guarantee profit. Please make your own decisions when trading.