- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD at risk of falling to $1,700 – ANZ
Gold Price Forecast: XAU/USD at risk of falling to $1,700 – ANZ
The failure to hold above $1,800 could renew downward pressure in XAU/USD. If gold price slips below $1,770, support may not be found until $1,700, analysts at ANZ Bank report.
Gold could come under increasing pressure
“The candlestick formation on Wednesday showed a bearish signal, as the price opened and closed near the day’s low. Prices are near the 50-day moving average. Settling below that would suggest that the price could again fall to the $1,750 range.”
“Should prices fall in the downward channel, the market could come under increasing pressure. A print back in the range of downtrend could see the price heading below $1,700.”
© 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
