Gold Price Forecast Update - 7 March 2024

The price of gold is displaying a stronger bullish bias as it moves towards our anticipated target of 2165.00. We recommend continuing with positive trades to potentially achieve more gains in the upcoming period. It's important to note that our next major target is set at 2200.00.

The EMA50 indicator continues to reinforce the suggested bullish wave, which will remain valid conditioned by the price stability above 2144.60. This ensures that there is no initiation of bearish correction on an intraday basis.

Expected Trend

Today's expected trading range spans from the support level at 2135.00 to the resistance level at 2170.00.

The expected trend for today is bullish.