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Daily GOLD Forecast – 31.1.2024

In the GOLD market, a test of the RSI support line and a rebound from the lower boundary of the bullish channel signal potential growth. However, a break below the 1995 level on January 31, 2024, may indicate a breakdown of support, leading to a further decline. Anticipate acceleration in XAU/USD quotes if prices break the resistance area above 2030, signaling an upward correction. The analysis suggests a potential correction near the 2015 level, followed by continued growth toward 2145, with a bearish scenario triggered by a fall below 1995.