Gold prices are experiencing a temporary downward pressure as of today, April 2, 2024.

After nearing the critical support level at $2222.86, gold has begun to rebound. However, for the bullish trend to continue, it must surpass the significant resistance at $2260.00. This would reinforce expectations of a sustained uptrend within the bullish channel indicated on the chart, potentially leading to a target price of $2300.00.

Analysts remain optimistic about the bullish trend in the near future. Nevertheless, if gold breaks below $2222.86 and subsequently $2202.00, it could signal a shift towards a bearish correction in the short term.

Today’s trading range is expected to be between support at $2235.00 and resistance at $2270.00.

Overall trend forecast: Bullish.