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Gold Price Nears Target Amid Positive Momentum

by Jennifer

Gold price is currently trading positively, steadily approaching our anticipated target at 1873.50. This upward movement is backed by support from the EMA50, reinforcing the likelihood of a continued ascent that could extend further, possibly reaching 1913.15.

Therefore, our recommendation remains in favor of a bullish trend on an intraday basis. It’s crucial to keep in mind that a breach of 1847.50, followed by 1838.35, could signal a halt to the expected rise and a potential reversal.

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Today’s Expected Trading Range: 1850.00 – 1880.00

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Today’s Trend Outlook: Bullish

 

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