Gold Forecast : February 5th - 9th, 2024
Cost of Gold Today
| Live Gold Price | Gold Spot Price Today |
|---|---|
| Gold Price per Gram | $65.26 |
| Gold Price per Kilo | $65,256 |
| Gold Price per Ounce(28.34 g) | $2,029.69 |
Gold Price Today : Convert Gold Ounce to US Dollar Or vice versa
Gold price chart in U.S. Dollar per ounce, Live gold price chart
- Current Gold Price Overview:
The gold market continues to display dynamic movements, influenced by a myriad of factors including economic indicators, geopolitical events, and market sentiment. Traders are advised to stay vigilant and adapt their strategies to the evolving landscape.
- Primary Demand Zone: $1955
The $1955 level stands as a crucial demand zone, reflecting historical support and potential buying interest. If gold maintains above this level during the week, it signals a bullish sentiment, indicating a favorable area for long positions. Traders may consider initiating buy orders or reinforcing existing positions within this zone.
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| Weekly Gold Forecast February 5th - 9th, 2024 |
- Alternative Support Zone: $1841:
In the event of a breakdown below the $1955 support level, the $1841 area becomes a secondary demand zone. This level is critical as it represents a significant shift in market sentiment. Traders should closely monitor price action around this level, looking for signs of a potential rebound or reversal before making any decisions.
- Key Scenario: Breaking Below $1955
Should the market witness a breach of the $1955 demand zone, it becomes imperative for traders to assess the strength of the bearish momentum on gold price. A sustained break below this level may trigger a bearish trend, and the $1841 zone would then come into focus as a potential buying opportunity on gold price.
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