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Daily GOLD Forecast – 3.4.2024

An additional indicator suggesting a potential rise in #GOLD quotes could stem from a test of the support line on the relative strength index (RSI), complemented by a rebound from the lower boundary of the bullish channel. Should prices dip below 2215, signifying a breakdown in support, anticipate further declines below 2165. Conversely, anticipate an uptick in the growth momentum of #GOLD quotes upon breaching the resistance zone and achieving closing prices above 2275.
Expect an initial effort towards price correction, testing support near 2230, followed by sustained growth in non-ferrous metal quotations targeting levels above 2355. However, a drop below 2215 would negate the bullish outlook, indicating a potential descent towards 2165.