After testing the 2475 support level and forming a double bottom, the bulls have regained control, pushing the price toward a potential test of the all-time high (ATH) for the sixth time.
This resistance level has weakened, and a breakout appears likely, especially with the upcoming Non-Farm Payroll (NFP) report on Friday and a potential Fed rate cut later this month. Given these factors, I anticipate that gold could soon reach the 2600 level.
Traders, what is your opinion about Gold this month?
This resistance level has weakened, and a breakout appears likely, especially with the upcoming Non-Farm Payroll (NFP) report on Friday and a potential Fed rate cut later this month. Given these factors, I anticipate that gold could soon reach the 2600 level.
Traders, what is your opinion about Gold this month?
Trade closed: target reached
Idea fulfilled 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.