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15.09.2021, 10:36

Gold price to see damaging weakness on a break below $1775 - Credit Suisse

FXStreet reports that gold (XAU/USD) remains entrenched in its range, but is capped at its July/August highs at $1832/34. Strategists at Credit Suisse suggest that a break below $1775 would lead to further falls.

“Gold extends its consolidation beneath the July and August highs at $1832/34. Below $1775 can reassert a negative bias again for a fall back to $1691.”

“Only a break above $1834 would be seen to complete an in-range base to clear the way for a deeper recovery to $1863, then $1917.”

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