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Daily GOLD Forecast – 13.8.2024

Gold (XAU/USD) is currently trading at 2462.64, showing a mixed technical outlook. Oscillators are largely neutral, with some slight bullish signals from the Momentum and MACD indicators. Short-term moving averages are slightly bearish, suggesting caution in the near term. However, long-term moving averages remain supportive of a continued upward trend. A breakout above 2488.933 could lead to further gains toward 2505, reinforcing the bullish scenario. Conversely, a drop below 2439.598 might trigger a decline towards 2410, signaling a potential bearish correction. Overall, the market outlook is neutral to slightly bullish, with key levels determining the next move.