Rewritten Title: Market Analysis Points to Short-Term Stability for 18-Karat Gold
Article:
A significant forecast for the 18-karat gold market indicates a period of price stability in the coming days, with analysts predicting the precious metal will hold within a defined range.
Projected Stability Amid Global Conditions
Expert economic analysis suggests that the price of 18-karat gold is expected to remain between 11 and 12 million Tomans per gram. This outlook is based on current global market conditions, foreign exchange rates, and broader economic fluctuations. While limited volatility is anticipated, a sudden, sharp price increase is considered unlikely in the short term, pointing towards a calmer market phase.
Technical Position and Key Price Levels
The trading session saw 18-karat gold open with a positive gap, starting at 11,274,000 Tomans and fluctuating within a mid-range channel before a final surge pushed its closing price to 11,369,500 Tomans. This upward movement has placed the metal at a sensitive technical juncture.
Market technicians identify 11,400,000 Tomans as the most significant immediate resistance level. A decisive break above this point, supported by strong trade volume, could set the stage for further gains, with subsequent targets at 11,450,000 and 11,500,000 Tomans.
Conversely, the range of 11,250,000 to 11,270,000 Tomans is established as a primary short-term support zone, a level that repeatedly prevented deeper declines during recent fluctuations. Analysts caution that a breach of this support could initiate a corrective phase, potentially driving prices down toward 11,200,000 Tomans or, under a scenario of widespread selling pressure, even to 11,150,000 Tomans.
The Path Forward
The trajectory for 18-karat gold in the immediate future is seen as highly dependent on its performance at these two key thresholds: 11.4 million and 11.25 million Tomans. Should demand driven by certain market expectations persist, the likelihood of breaking resistance and continuing an upward trend is currently assessed as stronger than a corrective scenario.