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Daily GOLD Forecast – 31.1.2024 (Update)

GOLD at 2038.53 exhibits a mixed 1-hour chart. Oscillators conflict, with MACD signaling buy, CCI and Momentum suggesting sell, while moving averages uniformly indicate a strong buy sentiment. Pivot points show neutrality. Gold forecast anticipates potential upward movement, contingent on RSI support and a break above 2030. Market sentiment leans neutral to slightly bullish. Traders should monitor key levels, with a 40% probability of decline and 60% probability of a rise. Risk management is crucial, considering potential scenarios for both sell and buy positions amid market uncertainties. Stay informed about economic indicators, geopolitical events, and market news.