Gold Price Forecast Update April 22, 2024

The gold price has turned bearish, breaking below the $2365.10 level and indicating a potential decline towards testing $2325.90 in upcoming sessions.

As such, the intraday bias suggests a bearish trend, although this expected decline is viewed as temporary. The overall bullish trend is anticipated to resume later. It's worth noting that if the targeted level is breached, further bearish correction could push the price down to $2260.60. Conversely, a break above $2365.10 is crucial to resume the primary bullish trajectory, with a target set at $2431.45 as the initial positive milestone.

Expected Trend

Today's expected trading range spans from the support level at 2345.00 to the resistance level at 2380.00.

The expected trend for today is bearish.