Gold Holds Steady Near Resistance, Eyes Further Gains
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Gold is currently trading at $2,691.77, consolidating after a strong recovery from its recent lows near $2,583. The price has approached a key resistance zone at $2,785, which has temporarily halted the bullish momentum. Despite this pause, the overall trend remains upward, supported by strong safe-haven demand amidst ongoing geopolitical uncertainties and global economic instability.
The immediate resistance at $2,785 is a critical level to watch. A breakout above this zone could pave the way for further gains, with the next target near $2,850 or higher. On the downside, the support area around $2,656-$2,670 offers a solid foundation for buyers to defend, ensuring the bullish structure remains intact.
If gold manages to clear the $2,785 level, it could trigger the next leg of the rally. Conversely, a pullback to the support zone may provide traders with another opportunity to enter long positions. With the current bullish sentiment, gold remains well-positioned for further growth heading into December.
The immediate resistance at $2,785 is a critical level to watch. A breakout above this zone could pave the way for further gains, with the next target near $2,850 or higher. On the downside, the support area around $2,656-$2,670 offers a solid foundation for buyers to defend, ensuring the bullish structure remains intact.
If gold manages to clear the $2,785 level, it could trigger the next leg of the rally. Conversely, a pullback to the support zone may provide traders with another opportunity to enter long positions. With the current bullish sentiment, gold remains well-positioned for further growth heading into December.
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