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Gold prices experienced a lackluster movement on December 2, 2024, hovering around the $2630 level. As a result, the overall bearish trend forecast remains intact for the near future, with an initial target of $2600.
The gradual loss of positive momentum in the stochastic indicator further supports expectations for a decline in gold prices. However, if the price breaks above $2663, the bearish outlook will be invalidated, and the market could potentially shift back into a bullish trend.
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For today, the expected trading range is between $2615 as the support level and $2652 as the resistance level.
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Trend Forecast: Bearish
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