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Gold Price Forecast: XAU/USD to break higher with a weekly close above $2,075 – Credit Suisse

Gold remains stagnant, but investment strategists Credit Suisse They favor a possible move to fresh all-time highs above $2,070/$75.

Support at $1,969/$66

“We expect the all-time highs of $2,070/$2,075 in 2020 and 2022 to remain a formidable barrier for now to further sideways consolidation.”

“After the current swing phase, we believe the market will eventually move to new all-time highs, supported by lower US real yields. With this in mind, breaking above $2,075 on the weekly close would be a significant sign. higher, opening a move towards our first upside target of $2,330/$2,360.”

“Support at $1,969/$66, which includes the 55 DMA, below which a more decisive rejection of the $2,075/$70 highs would occur.”

Source: Fx Street

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