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Gold prices have recently shown positive movement, testing the $2730.00 mark, and analysts are now anticipating further increases, with a target of $2742.00 in sight. However, it is noted that for this upward momentum to continue, the market will require a positive catalyst to support the rally towards this key level.
In contrast, should the price break below the $2693.00 level, a shift toward bearish correction is expected. This move could initially drive prices down to around $2672.00.
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The expected trading range for gold today is between a support level of $2705.00 and a resistance point at $2745.00. Traders are advised to monitor these levels closely for potential price movements.
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