Gold Price Forecast: XAUUSD to extend its rebound towards $1,880 Gold XAUUSD Germany UnitedStates
“It remains to be seen if the recovery in Gold Price has legs, as the dollar could regain its safe-haven status if risk-aversion returns on the disappointing German ZEW survey. A sharp dip in the ZEW gauge could likely hint at an incoming recession in the old continent.”
closing basis. This suggests that the renewed upside could have legs, with the next bullish target seen at around $1,872. A firm break above the latter will call for a test of the downward-pointing 21-Simple Moving Average at $1,876. The 50-SMA at $1,880 will be the level to beat for gold bulls should the recovery momentum continue.”
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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