Recent Price Action Gold broke below $2680 on Friday, dropping to $2648. The immediate support is expected around $2600. Short-Term Outlook In the near term, gold is likely to range between $2600-$2750. If $2600 holds as support, expect a period of fluctuation within this range. From the daily chart, gold is currently hovering near the $2650 support level. A potential rebound could see prices testing $2680 and, if broken, $2700 would act as the next resistance level. Additional upside could revisit the recent high of $2725. Bearish Scenario If the daily chart closes below the 21-day moving average at $2640, gold may retest the December 6th low at $2613. The final support for buyers is at $2600. Trading Strategy Sell Entry: Consider selling at the upper boundary of the $2680–$2630 range. Stop Loss: Set a strict stop loss at $10 below the entry point. Target: Aim for the lower boundary of the range. If $2640 holds, expect a potential rebound first, with further downside only if $2600 is broken.