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Gold prices have rebounded with positive trading activity following recent declines, reinforcing expectations for the continuation of the primary bullish trend. The focus now shifts to the $2,540 level as the next significant target. A breakthrough of this level could pave the way for prices to challenge the $2,600 barrier in the near term.
The stochastic indicator has reversed its negative momentum, suggesting potential for further price increases and movement towards the projected targets. To maintain the bullish trend, gold prices need to remain above the $2,483.40 mark.
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Today’s anticipated trading range is between $2,500.00 for support and $2,545.00 for resistance.
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Trend Forecast: Bullish
