Gold surges upward following a period of consolidation – Société Générale
Gold Breaks Out, Eyes Higher Targets
According to FX analysts at Société Générale, gold has surged past its December high, ending a period of tight consolidation and indicating a fresh wave of bullish momentum.
Last week, gold surpassed its December peak and traded within a confined range. Recently, it has leapt out of this range with a notable gap, pointing to renewed upward strength.
Analysts expect gold to continue its gradual climb, potentially reaching the top of a sharp rising channel near $4,765, with further upside projections around $4,850. The previous December high, between $4,550 and $4,535, is likely to act as a key short-term support level.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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