Gold prices are currently wrestling with the $2,400 mark at the start of Wednesday, following a quiet close the previous day. The precious metal is making another bid to reclaim the $2,400 threshold as the U.S. dollar weakens slightly due to a dip in Treasury yields, all while anticipating a new lineup of speakers from the Federal Reserve.
Gold remains at a pivotal moment, although the odds seem to favor an upward movement. The metal needs a sustained 4-hour candle close above the key resistance trend line at $2,396 to confirm a bullish breakout.
The next significant barrier lies at the record high of $2,432, above which the psychological level of $2,450 looms enticingly, potentially setting the stage for further gains in this ever-dynamic market.