Gold Price Forecast – May 21, 2024

by Jennifer

Gold Price Analysis

The gold price is currently facing downward pressure, aiming to breach the $2431.44 level and settle below it. This movement signals the initiation of a bearish correction following the recent uptrend that commenced from the $1984.16 regions. The next potential downside target is projected to be around $2340.10.


Expected Scenario


Today’s outlook suggests a bearish bias, with a focus on the possibility of further decline. A decisive break below the $2400.00 barrier would strengthen expectations for continued downside movement. However, if the price manages to breach the levels of $2431.44, followed by $2450.00, it would halt the anticipated decline and pave the way for a resumption of the primary bullish trend.

Expected Trading Range

The anticipated trading range is expected to fluctuate between the support level at $2390.00 and the resistance level at $2430.00.

Trend Forecast: Bearish

You May Also Like


Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright – Futures Market, Investment, Trading & News