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Gold prices have surged past the $2,450 mark, signaling a continuation of the bullish trend and paving the way for a potential test of the historical high at $2,483.40. A breach of this level could propel the price towards the $2,500 barrier.
The positive momentum in Stochastic indicators supports the expectation of continued price increases in the near term. However, a decline below $2,428 could lead to a retracement and test of the key support level at $2,380 before any further attempts to rise.
Today’s expected trading range for gold is between $2,440 support and $2,480 resistance.
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