- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD at risk of a pullback over the next few weeks – Standard Chartered
Gold Price Forecast: XAU/USD at risk of a pullback over the next few weeks – Standard Chartered
What is the outlook for Gold after the sharp moves in recent months? Economists at Standard Chartered see risks of a pullback.
Gold rally appears stretched
“Our proprietary indicator, fractals, is signalling that recent rally has led to stretched technicals for Gold, which has shot past our end-2023 price target of $1,890. Hence, we see elevated risk of a consolidation or even a pullback in Gold over the next few weeks.”
“We would prefer to wait for a pullback towards $1,840 area before adding further exposure to Gold.”
© 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
