Gold Prices Surge, Targeting New Highs

by Yuki

Gold prices have successfully reached the anticipated target of $2,668.00, beginning today with a bullish momentum aimed at surpassing this level. This movement aligns with expectations of a continued upward trend in both intraday and short-term trading. Analysts are now focusing on the next target, which is set at the recent high of $2,685.50.

Support from the 50-day Exponential Moving Average (EMA) bolsters the forecast for ongoing price increases. However, a decline below $2,660.00 could introduce intraday negative pressure, potentially leading to a test of the key support level at $2,635.06 before any new upward attempts.

Traders can anticipate a trading range for today between support at $2,655.00 and resistance at $2,690.00.

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