Gold prices have edged up to $2324.27, reflecting a modest increase of 0.13%. Key technical levels indicate that the pivot point is positioned at $2320.45, which serves as a crucial indicator for future price movements. Immediate resistance levels are identified at $2341.56, $2353.36, and $2368.39, suggesting potential upward targets for the asset. On the downside, immediate support is found at $2311.36, with further support at $2299.06 and $2286.94.
Technical indicators further inform the outlook. The 50-day Exponential Moving Average (EMA) is currently at $2332.15, while the 200-day EMA stands at $2332.40.
In conclusion, the bullish sentiment for gold remains intact as long as prices stay above the pivot point of $2320.45.