Gold price forecast update 24-05-2024
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?

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