Gold extends rally to new record-high above $2,610

#Gold experienced another significant rally today, with a remarkable increase of over 200 pips. This surge in price has caught the attention of investors and traders alike, sparking discussions about the future trajectory of the precious metal. Analysts are closely monitoring the market dynamics, anticipating potential scenarios in the upcoming days.

If a pullback occurs, I suggest that the price might retrace to around 2589. This level is seen as a critical support zone that could influence the market sentiment and trading decisions. However, many are optimistic that any correction will be short-lived, as the overall bullish trend is expected to prevail.

Looking ahead, projections indicate that a bounce to 2633 could be on the horizon. This rebound is likely to be fuelled by positive market sentiment and continued investor interest in gold. If this scenario unfolds as anticipated, the price may further climb to 2662, establishing another new high for the commodity.

Chris