Gold Price Forecast: XAUUSD surge towards $2,000 on a break above $1,900 – ANZ
|Gold has been in the range of $1,800-1,850 since mid-May. Strategists at ANZ Bank expect the yellow metal to confirm an upside move on a break past $1,900.
XAUUSD is consolidating, the range looks indecisive
“The current price range of $1,800-1,900 will not provide any clear direction until prices break either side of the range.”
“A convincing break of above $1,900, which is also a trend break-out, will be required before a short-term bullish outlook can be called. Once this level breaks, prices could touch the previous highs of $1,950 and $2,000.”
“Key supports are at $1,800 and $1,760.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.