This morning, Japan’s CPI report showed that inflation has risen again, and the Bank of Japan is expected to raise interest rates soon to curb it.
This supported a rise in the Japanese Yen this morning, while the U.S. Dollar weakened slightly, helping gold prices surge to the 419x range with no signs of cooling down.
In addition, President Donald Trump stated that the United States will soon launch a ground war against Venezuela to combat and overthrow Maduro’s “drug-trafficking regime” after failed negotiation efforts.
With the U.S. currently on holiday, gold is expected to continue receiving strong support during the Asian–European sessions in the short term and may explode next week when the U.S. market returns. Gold could revisit the 43xx$ region or even break its previous high to set a new ATH.
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