Gold prices are expected to trade sideways today, with a slight upside bias. The price of gold is currently trading at around $1,850 per troy ounce, and is expected to remain within a range of $1,840 to $1,860 per troy ounce today.
There are a few factors that are expected to support gold prices today. First, the ongoing conflict in Ukraine is likely to continue to boost demand for safe-haven assets such as gold. Second, the US dollar is expected to remain weak, which is also supportive for gold prices.
However, there are also some factors that could weigh on gold prices today. First, the US Federal Reserve is expected to continue raising interest rates in an effort to combat inflation. This could lead to some investors selling gold to raise cash. Second, physical demand for gold in major consumer markets such as China and India is expected to remain weak.
Overall, the outlook for gold prices today is mixed. The price of gold is expected to trade sideways, with a slight upside bias. However, investors should be aware of the factors that could weigh on gold prices, such as rising US interest rates and weak physical demand.
Disclaimer: Gold price predictions are just that - predictions. The actual price of gold could move outside of the predicted ranges, and investors should always do their own research before making any investment decisions.