Gold Price Forecast: XAU/USD seen on course to retest the $2,063/75 highs – Credit Suisse
Strategists at Credit Suisse maintain their existing bullish outlook for Gold.
A weekly close below $1,875 would reinforce the longer-term sideways range
With the USD completing a large bearish continuation pattern and expected to see further material weakness we maintain our long-held view for a major floor to be found at $1,900/1,890 and for an eventual retest of major resistance at the $2,063/2,075 record highs to be seen.
We still stay biased to an eventual break to new record highs later in the year, which would then be seen to open the door to a move to $2150 next, then $2,355/65.
A weekly close below $1,875 though would be seen to reinforce the longer-term sideways range, and a fall to support next at $1,810/05.
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