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Daily GOLD Forecast – 17.12.2024

A potential decline in XAUUSD is indicated by a test of the RSI resistance line and a price rebound from the resistance area. A strong bullish signal, however, would be a price surge above the 2705 level, signaling a breakout of the resistance zone and potentially targeting 2765.
Conversely, a bearish scenario could unfold with a price break below the 2645 support level, confirming a breakdown of the bullish channel and potentially targeting 2575.
A short-term bullish correction is expected, with a test of the 2675 resistance level. A subsequent decline in non-ferrous metal prices could further fuel the bearish trend for XAUUSD.