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- Gold price to hit $1871 on erosion of August highs at $1834 - Credit Suisse
Gold price to hit $1871 on erosion of August highs at $1834 - Credit Suisse
FXStreet notes that gold remains capped at its July/August highs at $1832/34, and strategists at Credit Suisse suggest that only above here would see a small base to open the path towards the $1871 mark.
“Gold strength has stalled at the July and August highs at $1832/34. Only a break above here would be seen to complete an in-range base to clear the way for a deeper recovery to $1871, then $1917.”
“Only below $1671 though would mark a major top to mark an important change of trend lower with support then seen at $1620/15 initially, then $1565/60."
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