Gold prices opened today on a positive note, rebounding from a decline experienced yesterday. The precious metal has reached a high of $2,685.50 but is struggling to maintain momentum above this level. Analysts suggest that this resistance may lead to a bearish correction, with potential targets set at $2,660.00 and, subsequently, $2,635.06 if the lower level is breached.
As a result, a bearish trend is anticipated for the day. However, should the price manage to break through the $2,685.50 mark, it could signal a return to the primary bullish trend, paving the way for further gains. If this occurs, gold prices could rise to $2,700.00, followed by $2,720.00.
For today, the expected trading range for gold is between a support level of $2,660.00 and a resistance level of $2,695.00.
Related topic:
