Gold price hovers around the support – Analysis - 24-10-2023

Gold price fluctuates around 1977.25 level, showing positive trades now to move above this level, while the technical indicators continue to provide the positive signals that support the chances of achieving more rise in the upcoming sessions.

Therefore, we will continue to suggest the bullish trend on the intraday and short-term basis, which targets 2016.90 as a next main station, noting that failing to hold above 1977.25 will push the price to turn to decline and head towards 1945.20 areas before any new attempt to rise.

The expected trading range for today is between 1965.00 support and 2000.00 resistance.

The expected trend for today: Bullish