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Gold Price Forecast for July 3, 2024

by Jennifer

Gold Price Analysis:

The gold market saw little movement in recent sessions, with prices remaining in a tight range around the 50-day Exponential Moving Average (EMA). The outlook for a bearish trend remains unchanged, with the next significant target set at $2,272.06.

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However, it is important to note that if gold breaches the $2,340.10 mark, this could halt the anticipated decline. In such a scenario, we could see a recovery, with prices potentially climbing first to $2,365.00, and then towards the $2,400.00 range.

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Expected Trading Range:

Today’s trading is expected to fluctuate between a support level of $2,305.00 and a resistance level of $2,345.00.

Trend Forecast: Bearish

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