Gold Price Poised for Breakout Amidst US Inflation Data
Gold (XAU/USD) is currently trading in a sideways range between approximately $2,470 and $2,532 per ounce. Analysts suggest that if gold breaks above this range, it could rise further towards $2,600, but a break below $2,470 could lead to a drop, potentially testing the $2,400 level. The market is highly sensitive to upcoming US inflation data, which could drive significant movement in gold prices
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