Reasons Why Gold Could Continue to Rise Further

First, on Friday, the Supreme Court struck down most of Trump’s tariffs, dealing a major blow to the president. From that moment on, Trump took the first blow. We all know he will react by making a bigger mess, and he has already increased tariffs by +15%, a ridiculous decision. This will undoubtedly create more volatility in the market.

Second, the US continues to threaten to start a war with Iran if they do not reach a deal soon. As many of you have read, Iran is working on the deal, but #Trump is not clear on what he wants more: to reach a deal or to start a war with Iran?

Given that the geopolitical and economic situations are very bad, the only direction for gold remains up.

A move above 5110 should push gold further higher as shown in the chart. So far this movement is consistent with our previous analysis.$PAXG

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