Gold has achieved a historic milestone by surpassing the $2,500 mark, reflecting a strong upward momentum. This bullish trend is expected to persist, with key levels determining the market’s future direction.
The resistance level at $2,530.00 is crucial for confirming the continuation of the primary upward trend. A successful breach of this resistance could propel gold prices towards $2,600.00 and subsequently to $2,650.00.
Conversely, the $2,470.00 support level is critical for identifying potential bearish trends. A drop below this support could trigger a brief corrective phase before the upward trajectory resumes.
Market Outlook: The prevailing upward trend is anticipated to remain dominant, with attention required on these pivotal levels to gauge future price movements.
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