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Gold prices demonstrated positive movement yesterday, reaching the $2,520 level. For continued upward momentum, the price needs to surpass current levels and achieve further gains. The immediate target is $2,540, and a breach of this level could lead to a near-term increase to $2,600.
In the near future, the bullish trend is anticipated to persist, though a decline below $2,500 could introduce negative pressure. This would likely test the critical support level at $2,483.40 before any potential rebound.
Today’s expected trading range is between $2,500 support and $2,540 resistance.
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