Gold Price Forecast: XAUUSD to suffer renewed downside pressure on a dip below $1,787 – Credit Suisse

Gold stays sidelined. A move below $1,787 is needed to reinject downside momentum again, economists at Credit Suisse report.

Slight downside bias in the broader range 

“Gold below its $1,874 recent high and 200-day average can maintain a slight downward bias in the broader sideways range.”

“Beneath $1,787 is needed to reinject downside momentum again for a test of the lower end of the two-year range at $1,691/77. Only below here though would see an important top established.”