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Gold prices have recently approached the $2500 mark and may experience additional declines to test the critical support level of $2483.40 before rebounding. Current stochastic indicators continue to signal positive momentum, reinforcing the potential for a resumption of the primary bullish trend.
As long as the $2483.40 support level holds, the outlook remains optimistic. The next significant target for gold prices is projected to be $2540.00.
For today, gold is expected to trade within a range of $2485.00 for support and $2525.00 for resistance.
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