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GOLD
Gold Price Forecast: Can XAUUSD Break the $4381 Record High?
Key Takeaways (30s Read)
Gold maintains an upward trajectory as it aims to break resistance at $4355.
Gold has successfully defended the 100-hour moving average, reigniting an upward trend. Currently, it is trading at $4338.31, up by approximately $37 (+0.85%), reaching intraday highs of $4349.50. Key resistance levels include the all-time high daily close at $4355.62 and intraday high of $4381.84. A breakout above these levels could lead to further upside towards a trendline resistance at $4419.64. The bullish bias stands valid as long as price remains above the rising 100-hour moving average around $4301. The market remains focused on potential new record highs as buyers maintain control.
AI Analyst
AI Opinion
"The gold market's recent performance is particularly positive, with the 100-hour moving average serving as a crucial support line. Traders should be cautious about this support while closely watching the next resistance levels. A breakout above $4355.62 daily close or $4381.84 intraday high would likely reinforce bullish momentum and open the path towards the target at $4419.64. However, any breach below $4301 would necessitate risk management, potentially leading to a downside correction. Overall, the current gold market maintains its bullish outlook."
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