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Gold prices have begun the day with a notable increase, approaching the anticipated target of $2,634.50. This upward movement is taking place within an intraday bullish channel, which bolsters the likelihood of further gains in the short term. Analysts suggest that breaching this target could lead prices to the next key level at $2,660.00.
The bullish trend remains intact, supported by the EMA50 indicator. However, if prices dip below $2,615.00, it may trigger a bearish correction before a potential rebound.
The expected trading range for today is set between a support level of $2,610.00 and a resistance level of $2,650.00.
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