Last week, gold prices went down first because President Trump said he would delay the tariff deadline to August 1. This news made people buy the U.S. dollar and sell gold.
Later, President Trump said, “Chairman Powell should resign,” and “Tariffs are not causing any inflation.” These comments showed he wants lower interest rates. The U.S. central bank meeting notes also showed that interest rate cuts could happen after September. This made gold prices go up again.
This week, the U.S. Consumer Price Index (CPI) for June will be announced. It is expected to go up compared to last month. If the result is as expected, there may be no quick interest rate cuts, and gold prices could go down.
However, because the situation around tariffs is still unclear, gold is expected to stay strong in the medium to long term.
This week’s gold and dollar price range: 3,310 – 3,400
Note: This information does not guarantee profits. Please make your own decisions when trading.