Gold Price Forecast: Valid Support Leads to $2,471 Target

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What will be gold’s price target once it finally breaks above the 2020 – present resistance zone of $2,070 – $2,074?

In this instance, we will have a clear target calculation of $2,471 per ounce (green callout), which is defined as equal to the amplitude of the entire preceding consolidation ($397 per ounce), added onto the breakout point of $2,074.

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