On the weekend of the 15th, the U.S. and Russia will hold a leaders’ meeting in Alaska. Hopes for a ceasefire in Ukraine caused gold selling. Also, the U.S. announced a 90-day delay in new tariffs on China, which made markets feel safe and pushed gold prices down.
Last week, gold prices rose on news of possible gold tariffs, but yesterday, President Trump said he would not add these tariffs. This caused more selling and erased most of last week’s price increase. For now, selling is expected to be strong when gold is in the $3,400 range.
However, a ceasefire in the U.S.–Russia talks is seen as unlikely, and the tariff issue with China is only delayed, not solved. This means gold’s price may not drop much further.
Expected Gold Price Range: 3,320 – 3,380 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.