Gold Price Forecast: XAU/USD set to reach new record highs above $2,070/75 – Credit Suisse Gold XAUUSD Banks
is still stalling in a range from just ahead of pivotal resistance from its $2,070 and $2,075 record highs. But economists at Credit Suisse stay biased towards an eventual move to new record highs.“With short-term momentum decisively rolling over after previously showing a bearish divergence, we look for the $2,070/2,075 highs to remain a formidable barrier.”
“Post the current ranging phase, we believe the market will eventually move to new record highs, supported by lower US Real Yields. Above $2,075 on a weekly closing basis would be seen to mark a significant break higher, opening up a move to our first core upside objective at $2,330/2,360.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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