#Gold Technical Analysis# 24K99 News: On Friday (June 21), during the closing of the Asian market, spot gold is currently around 2359 US dollars/ounce, which is basically the same as the closing price yesterday. Famous financial news website Economies.com's latest article on Friday analyzed the technical prospects of gold for the day.

According to Economies.com, the price of gold has confirmed a breakthrough of the key level of 2340.10 US dollars/ounce, which opens up space for the price of gold to continue to strengthen.

Spot gold closed up $31.74, or 1.36%, at $2359.93/ounce on Thursday.

Economies.com wrote in the article that the price of gold rose significantly yesterday, breaking through 2340.10 US dollars/ounce, and closed above this level, thereby stopping the corrective bearish scenario and aiming to restore the main bullish trend. The first target for the gold price is to test 2385.00 US dollars/ounce; if this level is surpassed, the gold price may continue its upward trend, and the target will be the historical high of 2450.00 US dollars/ounce.

(Spot gold 4-hour chart Source: Economies.com)

Economies.com believes that we expect the gold price to continue to rise further both today and in the short term. It should be pointed out that if the gold price falls below 2340.10 US dollars/ounce, this will push the gold price to become bearish and aim for the next retracement level of 2272.06 US dollars/ounce.

Economies.com expects that today's gold price trading will be between the support level of 2345.00 US dollars/ounce and the resistance level of 2385.00 US dollars/ounce.

Economies.com stated that the expected trend for gold prices today is bullish.

At 14:44 Beijing time, spot gold was reported at 2359.13 US dollars/ounce.