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Daily GOLD Forecast – 24.4.2024

In the realm of #GOLD, signaling a potential decline in quotes could originate from a test of the resistance line on the relative strength index (RSI), notably breached by sellers, alongside a breakout from the lower boundary of the bullish channel. However, should prices surge beyond 2375 by April 24, 2024, indicating a breakdown in resistance, anticipate further growth towards 2465. Conversely, expect an acceleration in the decline of XAU/USD quotes upon breaking through the support area and achieving closing prices below 2265.
Foresee an initial attempt at a price correction, testing the resistance area near 2330, followed by sustained declines in non-ferrous metal quotations targeting levels below 2175. However, if prices breach above 2375, it would nullify the bearish outlook, signaling a potential rise towards 2465.