Gold Price Forecast: XAU/USD rally to extend toward $1,973/98, with fresh cap expected here – Credit Suisse

FXStreet Insights Team FXStreet

Strategists at Credit Suisse expect Gold to extend its race higher toward the $1,973/98 resistance zone.

Initial support seen at $1,867

“Gold is expected to extend its rally to resistance next at the 78.6% retracement of the 2022 fall and April 2022 high at $1,973/98, with a fresh cap expected here. Only above the $2,070/75 record highs of 2020 and 2022 would suggest we are seeing a significant and meaningful long-term break higher.”

“Support is seen at $1,867 initially, then $1,825.”

See – Gold Price Forecast: Sustainability of the current XAU/USD upswing is uncertain – Commerzbank

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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