Gold Price Forecast: XAU/USD to see a lengthier pause – Credit Suisse Gold XAUUSD Banks
is having a difficult time gathering further bullish momentum. Economists at Credit Suisse expect the yellow metal to stage a consolidantion phase.“Gold has stalled in the short-term just ahead of our tactical objective at the 78.6% retracement of the 2022 fall and April 2022 high at $1,973/98, with a fresh cap still expected here. Short-term momentum is also turning lower, reinforcing the case for a lengthier pause.
“Support is seen at $1,897 initially, below which can see a pullback to the 55DMA, currently seen at $1,829.”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.
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