Today's Gold Price Forecast

Gold prices have declined, as we expected, near the uptrend levels on the four-hour timeframe, as a form of correction and profit-taking.

From there, we expect gold to rebound higher as long as it does not close below the lower levels of the uptrend and also the support level of $4,050 per ounce.

We currently expect another rise in the precious metal after its rebound from the trend and support levels, reaching $4,130 now. We still anticipate further gains towards $4,180 and then $4,300 per ounce in the near term.

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