Gold Price Forecast: 200-DMA at $1,775 to floor XAU/USD – Credit Suisse Gold XAUUSD Banks
is seeing a more severe setback below the crucial 55-Day Moving Average at $1,853. Strategists at Credit Suisse expect the yellow metal to find a solid support at the 200-DMA of $1,775.“Gold has been capped at resistance at $1,973/98 as expected and continues to fall further and is now clearly below the 55-DMA, currently seen at $1,853, which raises the odds of further losses towards the long-term 200-DMA, currently seen at $1,775, which we expect to floor the precious metal.
“Above $1,998 can reassert an upward bias for a test of long-term resistance from the $2,070/72 record highs of 2020 and 2022.”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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