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- Gold Price Forecast: XAU/USD has $1,900 in its crosshairs amid Russia-Ukraine tensions
Gold Price Forecast: XAU/USD has $1,900 in its crosshairs amid Russia-Ukraine tensions
Gold price is building on Wednesday’s impressive rebound from the $1,850 level, now challenging the three-month highs at $1,880. According to FXStreet’s Dhwanie Mehta, XAU/USD could recapture $1,900 amid heightened geological tensions.
XAU/USD eyes acceptance above $1,880, bullish potential remains intact
“Risks that the escalation of the years-long conflict with Donbass separatists could intensify tension between Russia and the West spooked investors, as a flight to safety returned with full force, boosting the demand for gold”
“Gold is flirting with the multi-month high level of $1,880, biding time to make a big break higher. The next upside target is envisioned at $1,900, the level unseen since June 2021. Further up, the June 1 high of $1,917 will be put to test once again.”
“Any retracement from higher levels will challenge the daily lows of $1,868 first before extending the downside towards the $1,850 psychological barrier. The next cushion awaits at Tuesday’s low of $1,845.”
See – Gold Price Forecast: XAU/USD to target $1,917 on a weekly close above $1,877 – Credit Suisse
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