Gold price forecast update 24-05-2024

Economies.com
2024-05-24 09:12AM UTC

Gold Price Analysis

Expected Scenario

  • Gold price is testing the key resistance line 2340.10$, and as we mentioned this morning, the price needs to hold below this level to keep the correctional bearish trend valid, reminding you that our next target is located at 2272.06$.
  • On the other hand, we should note that breaching 2340.10$ and holding above it will stop the negative scenario and push the price to build bullish wave that its targets begin by testing 2380.00$ areas.

Expected Trading Range

Between 2305.00$ support and 2345.00$ resistance.

Trend Forecast: Bearish

Read more: Will Gold price reach 3000$ areas?

Commodities News

Gold News

Commodities

Gold falls over 1% and marks weekly losses
2024-06-21 20:25PM UTC
Gold prices fell on Friday as the dollar gained ground against most major rivals, with the precious ...
Palladium News

Commodities

Palladium climbs to three-week high
2024-06-21 15:43PM UTC
Palladium prices rose on Friday with a 3% surge, hitting three-week highs and becoming the best ...
Oil News

Commodities

Oil approaches second weekly profits as demand improves
2024-06-21 14:52PM UTC
Oil futures were mostly flat on Friday but headed for the second weekly profit in a row amid signs ...

Commodities Technical Analysis

Oil Analysis

Commodities

End of day crude oil price forecast update - 21-06-2024
2024-06-21 17:17PM UTC
Crude oil price shows more bearish bias to head towards testing the bullish channel’s support ...
Silver Analysis

Commodities

End of day silver price forecast update - 21-06-2024
2024-06-21 17:16PM UTC
Silver price broke 30.06$ level clearly and heads toward achieving more expected decline in the ...
Brent oil Analysis

Commodities

Brent oil price forecast update 21-06-2024
2024-06-21 09:19AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price shows slight bearish bias now, ...