Spot gold closed yesterday with a 0.8% gain at 3,230, supported by a weaker U.S. dollar following Moody’s downgrade of the United States' credit rating. However, the precious metal opened this morning with selling pressure, likely influenced by President Trump’s announcement of imminent ceasefire negotiations between Russia and Ukraine.
With a relatively quiet week ahead in terms of economic data, geopolitical developments and any statements related to tariffs remain in focus.
Technically, gold is expected to trade within a short-term range between 3,168 and 3,250.
With a relatively quiet week ahead in terms of economic data, geopolitical developments and any statements related to tariffs remain in focus.
Technically, gold is expected to trade within a short-term range between 3,168 and 3,250.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.