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Gold prices have confirmed a bullish trend after successfully consolidating above the $2500 threshold. This development strengthens expectations for further gains, with the next target set at $2540. Achieving this level could pave the way for a climb towards the $2600 mark.
As long as gold maintains its position above $2500, the outlook remains positive, with the potential for setting new historical highs. However, if prices fall below this level, they could experience intraday losses and potentially test the $2483.40 mark as a preliminary support level.
For today, the anticipated trading range is between $2500 as support and $2540 as resistance.
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