In the European market on Tuesday, spot gold maintained its intraday rebound trend, with the price of gold now trading at around $1,998 per ounce. Gold's bullish potential remains intact. Gold prices are gearing up for the next round of gains. Additionally, ongoing geopolitical tensions between Hamas and Israel, as well as jitters ahead of the Federal Reserve's key interest rate decision, kept markets on edge. If the conflict in the Middle East intensifies, gold prices are expected to achieve a new round of upward trend. If the price of gold is suppressed again at US$2,000 per ounce, the price of gold may retest US$1,990 per ounce; if it falls below this level, the price of gold may challenge the low of US$1,977 per ounce on October 27. The bottom line for gold buyers is expected to be static support at $1,963 an ounce.
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