Gold Price Analysis August 11

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Last week, gold closed the last trading session in a sideways state in the accumulation zone. Entering the beginning of this week, the market is waiting for a new push to break the 3385–3405 zone, from which to trade in the winning direction.

If the lower edge breaks: A correction will be formed, then there is a high possibility of a new uptrend towards the historical peak (ATH).

If the upper edge breaks: The buyers can completely take advantage of the uptrend to bring the price closer to the ATH mark around 3445 in a short time.

📌 Key Levels

Support: 3383 – 3345

Resistance: 3404 – 3431 – 3445

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