Gold prices are currently experiencing volatility due to ongoing tariff discussions and potential shifts in U.S. monetary policy.
The proposed tariffs on imports from Mexico, Canada, and China by President-elect Donald Trump could lead to a trade war and create uncertainty in the global economy.
This uncertainty is likely to impact investor sentiment towards gold, which is traditionally seen as a safe haven during turbulent times.
The release of the Federal Reserve's minutes and upcoming economic data will provide further insights into the future trajectory of U.S. monetary policy and inflation trends.
These factors could have significant implications for gold prices.
While short-term corrections may occur, technical analysis suggests that the long-term outlook for gold remains positive.
Traders are advised to remain vigilant and consider the interplay between economic data releases and geopolitical developments when making investment decisions.
The market's response to these factors will be critical in shaping the future trajectory of gold and broader financial markets.