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Gold prices have resumed their upward momentum, surpassing the $2,450 mark and bolstering the forecast of an ongoing bullish trend. This positive movement suggests that the precious metal could test its historical peak of $2,483.40. A break above this level may propel prices toward the $2,500 threshold.
The stochastic indicator shows increasing positive momentum, reinforcing the likelihood of continued gains in the coming sessions. However, should the price fall below $2,428, it could prompt a decline towards the critical support level of $2,380 before any potential rebound.
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Today’s anticipated trading range is between $2,440 and $2,480.
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Trend Outlook: Bullish
