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Gold Prices Surge, Eyeing $2400 Level as Bullish Momentum Grows

by Daisy

Gold prices surged upwards, nearing the $2390.00 mark, and have initiated today with a strong bullish bias, aiming to breach the significant $2400.00 threshold. Technical indicators, particularly the stochastic, clearly indicate a robust positive momentum, bolstering expectations of a sustained bullish trend.

Supporting this optimistic outlook, the EMA50 continues to provide underlying support from below, reinforcing the positive sentiment. This bullish stance remains contingent upon prices maintaining stability above $2340.10.

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For today’s trading outlook, analysts anticipate a range bound between support at $2365.00 and resistance at $2400.00.

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