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Gold 4.2.2025
General Trend:
Gold is moving in a strong uptrend, forming higher highs and higher lows. The price has successfully broken significant resistance levels, increasing the likelihood of further upside movement. The current price is 2813.52, facing strong resistance at 2830.60.
Expected Scenario:
Bullish Scenario:
If the price successfully breaks above the 2830.60 resistance level and holds above it, further upward movement toward 2850.00, followed by 2900.00, is expected.
Any further breakout would confirm the continuation of the uptrend in the medium term.
Bearish Scenario:
If the price fails to break 2830.60, a downward correction may occur to test the support level at 2790.53. A break below this support could push gold further down toward 2729.64, which serves as a strong medium-term support.
Key Levels:
Resistances: 2830.60 - 2850.00 - 2900.00
Supports: 2790.53 - 2729.64 - 2660.04
Disclosure of risk: Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.
