The gold price closed at an all-time high of $2,508 on last Friday, leaving traders and investors questioning its next move. Will the price continue its upward momentum, or is a technical pullback on the horizon?
Given the recent surge, gold might face a slight pullback as traders take profits and key technical levels are tested. However, ongoing tensions in the Middle East and the expectation of a potential interest rate cut could support gold in holding above $2,500. The overall outlook remains bullish, but will we see a retracement to key technical levels before the next move higher?
The key question is whether the gold price will hold above $2,508 or if this surge will lead to a slight sell-off in the gold price. Take part in our poll by visiting our social media platforms.
The gold price will rally further above $2,508
Gold will experience profit-taking and close below the technical support level of $2480
The gold price will be rangebound between $2480 - $2508
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