Gold is present process a pointy setback after being capped close to precisely at its $2075 document excessive. Nevertheless, strategists at Credit score Suisse nonetheless count on the yellow steel to interrupt above right here in direction of the $2,285/2,300 zone.
Weak point seen as momentary whereas above $1,863
“Gold has been capped at its $2,075 document excessive however our bias is to view this as a short lived setback while help for the 55-day common at $1,863 holds on a closing foundation.”
“We search for a sustained break above $2,075 sooner or later with resistance seen at $2,120 initially forward of $2,167 and ultimately our new core upside goal at $2,285/$2,300.”