On the support side, the first key level is at $2,273.69, followed by $2,243.84 and $2,212.02, which could provide critical floors should prices decline. The 50-Day and 200-Day Exponential Moving Averages are at $2,318.95 and $2,323.90, respectively, reinforcing a narrow range that Gold must navigate.
An observed breakout of the ascending triangle pattern at $2,315 suggests a bearish trading bias, signaling the potential for further declines if sustained below the pivot point of $2,313.75. A shift above this level, however, may alter market sentiment to a more bullish outlook for gold.
