- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD is expected to rally further – Credit Suisse
Gold Price Forecast: XAU/USD is expected to rally further – Credit Suisse
Os Tuesday, Gold XAU/USD registered its highest daily close since April. Strategists at Credit Suisse expect the yellow metal to enjoy further gains.
Initial support aligns at $1,897
“Gold is expected to extend its rally to resistance next at the 78.6% retracement of the 2022 fall and April 2022 high of $1,973/98, with a fresh cap expected here.”
“Only above the $,2070/75 record highs of 2020 and 2022 would suggest we are seeing a significant and meaningful long-term break higher with resistance levels then seen at $2,300, then $2,500.”
“Support is seen at $1,897 initially, below which can see a pullback to $1,825.”
© 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
