Today, on July 17, 2024, the price of gold has reached unprecedented milestones, surpassing the $2450.00 mark and achieving a new peak at $2475.00. This surge marks a significant breakthrough, with projections pointing towards further milestones, particularly aiming to breach the $2500.00 barrier.
The upward momentum is supported by the EMA50, signaling potential for continued gains, albeit possibly interrupted by temporary sideways movements influenced by stochastic indicators showing negativity. Analysts caution that a retreat below $2450.00 could halt the current bullish trend, prompting a short-term correction before a potential rebound.
For today’s trading session, experts anticipate a trading range between support at $2455.00 and resistance at $2500.00, highlighting key levels to watch amid ongoing market volatility.
