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Gold Price Forecast: Bearish Bias Persists as Consolidation Persists
Gold's price movements suggest a bearish bias, with key support levels and potential targets indicating a possible continuation of the current downtrend. video 50-Day Moving Average is Key Lower Target: A key lower potential support level is around the 50-Day MA, currently at 2,251. It is close to converging with a Fibonacci confluence zone from 2,261 to 2,255. Together, they create a price range from 2,261 to 2,255. This will be a decision zone where there may be signs of support followed by a bullish reversal. However, there are lower price targets in the case that gold continues to retrace the previous advance. ... (full story)