Gold Price Forecast: XAU/USD rally to extend toward $1,973/98, with fresh cap expected here – Credit Suisse

Strategists at Credit Suisse expect Gold to extend its race higher toward the $1,973/98 resistance zone. 

Initial support seen at $1,867

“Gold is expected to extend its rally to resistance next at the 78.6% retracement of the 2022 fall and April 2022 high at $1,973/98, with a fresh cap expected here. Only above the $2,070/75 record highs of 2020 and 2022 would suggest we are seeing a significant and meaningful long-term break higher.”

“Support is seen at $1,867 initially, then $1,825.” 

See – Gold Price Forecast: Sustainability of the current XAU/USD upswing is uncertain – Commerzbank