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Gold prices experienced a decline following a brief uptick observed yesterday, maintaining the bearish trend on an intraday basis. The market is now focused on whether gold will break the $2,450 mark, which could confirm further decline toward the $2,405 level.
For the bearish trend to persist, gold prices need to remain below the historical high of $2,483.40. If the price surpasses this level, it could signal a shift to a bullish trend, potentially driving gold prices up to $2,500 and possibly extending to $2,540.
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The forecasted trading range for today is between $2,440 as support and $2,475 as resistance.
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Trend Forecast: Bearish
