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August 22, 2024 — Gold prices have retraced to the $2,500 mark and may experience further declines, potentially testing the critical support level at $2,483.40 before resuming an upward trend. Current stochastic indicators are providing positive signals that support the continuation of the primary bullish trend.
As long as the support level at $2,483.40 holds, the bullish outlook remains valid. The next significant target for gold prices is anticipated to be $2,540.00.
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For today, the expected trading range for gold is between the support level of $2,485.00 and the resistance level of $2,525.00.
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Trend Forecast: Bullish
