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Gold prices have resumed their downward trajectory after a brief uptick observed yesterday, maintaining a bearish trend on an intraday basis. The key level to watch is $2,450.00; a break below this point could signal a continuation of the decline, potentially pushing prices towards the $2,405.00 mark.
The ongoing bearish trend hinges on the price remaining below the historic high of $2,483.40. If gold prices exceed this level, it could signal a reversal and a continuation of the primary bullish trend, with potential gains starting at $2,500.00 and extending to $2,540.00.
For today, the anticipated trading range is between a support level of $2,440.00 and a resistance level of $2,475.00.
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