Gold resumes its bull trend as expected and strategists at Credit Suisse continue to look for eventual new record highs.

Key quotes

“Gold has quickly resumed its uptrend for a move above its ‘measured base objective’ at $1700/05 as expected and our core outlook stays bullish following the completion of a multi-year base in 2019.” 

“We see resistance at $1796/1803 next.” 

“Big picture, we continue to look for new highs above $1921. Below key price support at $1453/46 is needed to change this view as this would mark a top, turning the risk lower as well as ending our long-held bullish outlook.”

 

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