- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD is gathering pace for the next push higher toward $2,000
Gold Price Forecast: XAU/USD is gathering pace for the next push higher toward $2,000
Gold price is building on Wednesday’s upsurge this Thursday. XAU/USD is set to retake $2,000, FXStreet’s Dhwani Mehta reports.
Gold price is forming a bull pennant on the daily chart
“Gold price is charting a potential bull pennant on the daily chart. Gold buyers need a daily candle stick close above the falling trendline resistance at $1,975 to validate the bullish continuation pattern. An upside break will call for a test of Tuesday’s high at $1,985, above which the $2,000 round figure will get challenged.”
“On the other side, if Gold bulls fail to sustain at higher levels, any retracements could prod the intraday low at $1,965, below which the static support at $1,960 will be threatened. Deeper declines will expose the $1,950 demand area, opening floors for a test of the falling trendline support at $1,926.”
See – Gold Price Forecast: XAU/USD on course to retest its $2,070/2075 record highs – Credit Suisse
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
