An additional signal in favor of an increase in #XAUUSD quotes will be a test of the support line on the relative strength indicator. The second signal will be a breakout from the lower border of the bullish channel. The cancellation of the Gold price growth scenario on 6 August 2024 will be a price drop and a breakout of the 2375 level. This will indicate a breakout of the support area and a continuation of the asset price fall to the area below the 2325 level. Expect an acceleration of the growth of #XAUUSD quotes with a breakout of the resistance area and a price close above the 2455 level.
GOLD Forecast and Analysis for 6 August 2024 suggests an attempt to develop a bearish price correction and test the support area near the 2405 level. Further, the continuation of the growth of non-ferrous metal quotes with a target above the 2525 level.