Gold Prices Await Key Breakout: Forecast for September 5, 2024

by Jennifer

Gold prices remain ensnared between critical support and resistance levels, with support at $2,483.40 and resistance at $2,500.00. The market’s current stance is neutral as traders await a decisive move beyond these thresholds to determine the next direction.

A breakthrough above the $2,500 resistance could ignite a new bullish trend, potentially driving prices towards $2,540 as an initial target. Conversely, a fall below the $2,483.40 support may exert additional downward pressure, potentially testing the main bullish trend line, which is currently positioned at $2,448.00.

Advertisements

For today, gold is expected to trade within a range of $2,475.00 on the downside and $2,520.00 on the upside.

Advertisements

Trend Forecast: Neutral

You May Also Like

blank

Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright  bedgut.com – Futures Market, Investment, Trading & News