- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD at risk of tanking to $1,561 on a breach of $1,691/77 – Credit Suisse
Gold Price Forecast: XAU/USD at risk of tanking to $1,561 on a breach of $1,691/77 – Credit Suisse
Gold is especially seen at risk if real yields rise. Strategists at Credit Suisse are on high alert for the potential formation of an important top also, although this would only be seen confirmed below $1,691/77.
The risk of a potential large top is growing
“With US Real Yields still seen in the process of basing and with the USD expected to strengthen further, XAU/USD stays seen under pressure in its range and below support at $1,759/58 can see a retest of long-term pivotal support at $1,691/77.
“Beneath the $1,691/77area at any stage would mark a major top with just initial support then seen next at $1,561.”
“Resistance at $1,877 ideally continues to cap.”
© 2000-2024. 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
