Gold Demand Surges in Asia as Local Currencies Weaken
the gold market is expected to maintain a soft upward trend. This projection is supported by several factors, including technical indicators showing positive momentum that isn't yet in the overbought zone, suggesting that the path of least resistance is upward.
In the short term, the price of gold is likely to stay around the $2,500 level, with possible resistance at $2,480 and support near $2,430. If there is a significant pullback, it could be viewed as a buying opportunity, especially if prices dip towards these support levels. However, a break below $2,400 could indicate a deeper correction
Overall, the gold market is showing a bullish bias, with the possibility of prices continuing to rise throughout the month, influenced by ongoing geopolitical tensions and economic uncertainties
In the short term, the price of gold is likely to stay around the $2,500 level, with possible resistance at $2,480 and support near $2,430. If there is a significant pullback, it could be viewed as a buying opportunity, especially if prices dip towards these support levels. However, a break below $2,400 could indicate a deeper correction
Overall, the gold market is showing a bullish bias, with the possibility of prices continuing to rise throughout the month, influenced by ongoing geopolitical tensions and economic uncertainties
Note
these levels are working good
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