Last week, gold prices went up to a new highest level because many people thought the U.S. central bank would cut interest rates. But when the meeting happened, the news was stronger than expected, and hopes for a big rate cut became smaller. This made some people sell gold because gold does not give interest. However, near the weekend, people bought gold again, so the price stayed strong.
This week, gold may try again to reach a new highest level because buying power is still strong. But since there are no big reports or events this week, some people may sell to take profit if the price is too high, so the rise may be limited.
This week’s gold–dollar price range: 3,600 – 3,700 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.