Gold price forecast for 06-11-2024
Gold price traded with strong negativity to surpass our first target at 2718.80$ and approaches the second waited target at 2696.85$, noticing that the price attempts to recover now to head towards potential test to the key resistance 2746.00$, and as long as the price is below this level, the correctional bearish scenario will remain valid for the upcoming period, waiting to achieve more negative targets, News.az reports citing Economies .
On the other hand, we should note that breaching 2746.00$ will stop the suggested negative scenario and push the price to resume the main bullish trend within the bullish channel that appears on the chart, to head towards visiting 2789.90$ initially.The expected trading range for today is between 2710.00$ support and 2765.00$ resistance.
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