Gold Price Forecast: XAU/USD to re-touch all-time highs of $2,063/$75 – Credit Suisse

Gold suffered a sharp pullback on Thursday. However, according to economists from Credit SuisseGold is expected to retrace all-time highs of $2,063/$75.

A weekly close below $1,883 would reinforce the long-term sideways range

We stand by our long-term view that a major bottom will be found at the upside key of the 200 DMA at $1,883 and eventually retest the main resistance at the all-time highs of $2,063/$2,075.

We remain in favor of a possible break of new all-time highs later in the year, which would open the door for a move towards $2,150, and then $2,355/$65.

However, a weekly close below $1,883 would reinforce the longer-term sideways range, and a drop to $1,810/$05 support.

Source: Fx Street

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