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Spot Gold Technical Analysis and Forecast [31-01-2025]

This Spot Gold technical analysis page includes a summary for Spot Gold. Trading zones from Strong Buy, Sell, Neutral, Sell to Strong Sell By Neal Bhai.

Spot Gold Technical Forecast

The near-term technical outlook suggests that gold is about to be technically overbought, indicating that it may have to decline before the uptrend can continue. The Relative Strength Index (RSI) indicator on the daily chart (Intraday) is slightly above 70, and gold is trading near the upper boundary of a 5-week-old ascending regression channel.

Yellow Metal Trading Zones

On the upside, the first resistance area can be seen at $2,800 (all-time high, round level). If gold manages to rise above this area and starts using it as support, it could target $2,900 (round level) next. Looking south, the first support level can be seen at $2,740 (stable level, midpoint of the ascending channel) before $2,700 (lower boundary of the ascending channel, round level) and $2,680 (20-day simple moving average).

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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