Gold Price Forecast Update - 12 March 2024

The gold price has been trading sideways since morning, remaining around 2180.00, affirming the continuation of the bullish trend scenario without alteration. The initial target remains at 2200.00, with a breach potentially extending the bullish momentum towards 2260.00.

Conversely, it's important to highlight that a break below 2144.60 could introduce correctional bearish pressure, with the next target at 2114.55.

Expected Trend

Today's expected trading range spans from the support level at 2165.00 to the resistance level at 2200.00.

The expected trend for today is bullish.