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Expected Scenario
In the latest market movements, the price of gold has resumed its ascent, signaling a potential return to the primary bullish trajectory. Within the confines of a bullish channel, there is growing support for the likelihood of further gains in the short-term and medium-term. Analysts anticipate a target of $2364.00 as the next pivotal point.
The presence of the EMA50 continues to bolster the perceived bullish momentum. However, a breach of the $2320.00 mark could momentarily dampen the price, with a potential test towards $2273.00 before any subsequent attempts to rise.
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Expected Trading Range
Market expectations suggest a trading range between the support level at $2325.00 and the resistance level at $2360.00.
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Trend Forecast: Bullish
