Gold Price Forecast: XAU/USD set to grind lower below the $1,691/77 zone – Credit Suisse
Gold stays sidelined and beneath the July and August highs and downtrend from August 2020
Financial and Business News
Gold stays sidelined and beneath the July and August highs and downtrend from August 2020
Gold gained some positive traction on Monday and moved away from over one-week lows. Worries
Gold has rallied to and so far failed at the $1813 55-week moving average. Karen
Gold continues to hold over the 78.6% retracement at $1722. Karen Jones, Team Head FICC
Gold extends its consolidation beneath the July and August highs at $1832/34. In the view
Gold remains sensitive to signs of Fed tapering. Cooling inflation and softer labour data have
XAU/USD has tumbled down as dollar demand triggers selling. The Confluence Detector is showing gold has
Gold flows have remained eerily quiet of late. Stagflation narrative captures market’s share of mind,
Gold is hovering around $1,800. Nearby support at $1779/74 is proving to be pretty solid.
Analysts at Societe Generale provide their medium to long-term outlook on gold price, with the