- Analytics
- News and Tools
- Market News
- Gold Price Forecast: Nascent XAU/USD bull to knock on the $1980 door – DBS Bank
Gold Price Forecast: Nascent XAU/USD bull to knock on the $1980 door – DBS Bank
As Benjamin Wong, Strategist at DBS Bank, notes, XAU/USD’s technical chart shows the possibility of a near-term bullish inverse head-and-shoulders pattern, that requires a break over $1830 for validation. Once validated, gold would open up further upside.
The balance of risks appears to be siding with a nascent bull
“Gold is quietly making a bullish inverse head-and-shoulders since June – thus the nascent gold bull is quietly knocking at the door. The neckline stands around $1830, for that pattern to take off. A secondary confirmation probably requires gold to surmount and sustain over the weekly Ichimoku’ cloud fringe resistance at $1873.
“Should the inverse head-and-shoulders pattern get validated, gold would target the upside into $1930, perhaps even $1980 (over the June highs). A break under $1720 would however nullify this potential pattern.”
See – Gold Price Forecast: XAU/USD to go on the topside once above $1813/42 – Commerzbank
© 2000-2026. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
