Gold price concluded the previous session with a close above the 1962.35 level, utilizing this point as a foundation for positive trades at the commencement of today’s session. This development enhances the likelihood of realizing additional gains on an intraday basis, with an initial target set at the 1975.00 level. It’s crucial to acknowledge that this level serves as a significant resistance point, and a breakthrough holds the key to reclaiming the primary bullish trend, paving the way for further positive targets, with 2000.00 as the subsequent milestone.
Hence, the inclination towards a bullish trend remains anticipated for the foreseeable period. It’s imperative to monitor the price action closely, as a breach below 1962.35 would interrupt the expected ascent, potentially triggering a reversal in the price movement.
Today’s envisaged trading range lies between the support level at 1950.00 and the resistance level at 1980.00.
Expected Trend for Today: Bullish
