Gold Price Forecast: XAU/USD to find a major floor at the 200-DMA of $1,856 – Credit Suisse

GOLD: US Dollar Hits Supply Zone, What Next?

Here's the latest news from Federal Reserve Chair Jerome Powell. While speaking at a conference in Portugal, Powell expressed optimism about the US economy and decreased the possibility of a recession, stating that the economy has shown resilience and is still growing, albeit at a modest pace. He acknowledged the possibility of a recession but

Gold Price Forecast: XAU/USD resilient despite Fed’s rate hike speculations on solid US data

Gold price regains momentum above $1900 despite increased odds of Fed rate hikes. US economic data underscores robust growth, pushing XAU/USD to test 200-day EMA. Treasury bond yields soar, underpinning projections of higher rates and potential headwinds for Gold demand. Gold price recovers some ground after sliding below the $1900 figure for the first time

Breaking: ​​​​​​​Gold drops below $1,900 for the first time since mid-March

Stronger-than-expected US economic data boosts the US Dollar across the board. US Treasury yields spike higher, putting pressure on Gold. XAU/USD fell below $1,900/oz, reaching its lowest level in three months. Gold prices tumbled following the release of US economic data. XAU/USD broke below $1,900 for the first time since mid-March and fell to $1,894.

Gold Price Forecast: XAU/USD bears keep control, focus on $1,885 and Fed inflation gauge

Gold Price stays bearish near the lowest levels since March, braces for the second consecutive weekly loss. Hawkish Federal Reserve talks, upbeat United States data underpin US Dollar strength and weigh on XAU/USD. US-China jitters, Germany’s recession fears and fewer accolades for European Central Bank hawks also favor Gold sellers. China’s official PMIs, US PCE

Exciting Gold Price Forecast: XAU/USD stands firm above the $1,900 mark, while all eyes eagerly await the US PCE Price Index for a burst...

Gold price fails to attract any buyers or build on the overnight bounce from a multi-month low. Hawkish major central banks continue to act as a headwind for the non-yielding commodity. The US Dollar stands tall near a two-week high and also contributes to capping the XAU/USD. Investors keenly await the release of the US

Gold Price Forecast: XAU/USD Glides Around $1,900, Anticipating Data to Unveil Fed’s Hawkish Signals – Confluence Detector The captivating dance of XAU/USD continues as it...

Gold Price remains dicey as bears attack the key support while seeking confirmation of hawkish Fed bias. Fed’s preferred inflation, FOMC Minutes and NFP will be crucial to watch for clear XAU/USD directions. US-China headlines, central bankers’ speeches may entertain the Gold sellers. Gold Price (XAU/USD) lacks clear directions even as bears keep the reins

The decline in Gold is now on the cusp of Credit Suisse’s target of price and retracement support at $1,900/1,890. The bank analyzes XAU/USD technical outlook.

Weekly close below $1,856 to reinforce the longer-term sideways range

Gold has declined to our core target of $1,900/1,890 and with the rising 200-DMA seen not far below at $1,856 we look for a floor in this $1,900/1,856 zone.

We anticipate $1,856 to hold on a closing basis, paving the way for a potential rally to $1,985 initially, followed by a retest of major resistance at the $2,063/2,075 record highs. Our bias remains towards an eventual breakthrough to new record highs later in the year, which would then open the door to a move above $2,300.

A weekly close below $1,856 would reinforce the longer-term sideways range, potentially leading to a decline to the next support level at $1,810/05.

Gold Price Forecast: XAU/USD to find a major floor at the 200-DMA of $1,856 – Credit Suisse

In the wake of the economic uncertainty caused by the ongoing global pandemic, gold has emerged as a safe haven for investors. Its value has surged to record highs as investors seek refuge from the volatility of the stock market. With this in mind, Credit Suisse, a renowned financial institution, has released a forecast suggesting that gold will find a major floor at the 200-day moving average (DMA) of $1,856.

Gold prices have been on a steady upward trajectory, driven by geopolitical tensions, the weakening US dollar, and fears of a global recession. However, with the recent announcement of effective COVID-19 vaccines, optimism has resurfaced in the markets, leading to a temporary decline in gold prices. Credit Suisse believes that this correction will be short-lived and that gold will bounce back, finding support at the 200-DMA.

The 200-day moving average is a widely followed technical indicator used by many traders and investors to identify key support or resistance levels. It is calculated by averaging the closing prices of an asset over the past 200 days. This moving average acts as a significant psychological level, and if breached, it could trigger a definitive trend reversal.

Credit Suisse’s gold price forecast is based on a comprehensive analysis of various factors, including market sentiment, macroeconomic indicators, and technical analysis. They argue that the 200-DMA has historically served as a strong support level for gold during prolonged bull markets. This view is supported by the fact that gold prices have not closed below the 200-DMA since 2019.

Moreover, Credit Suisse highlights the current macroeconomic environment as a key driver for their prediction. Despite the positive news surrounding COVID-19 vaccines, the global economic recovery is expected to be slow and uneven. The near-zero interest rate policies adopted by major central banks, coupled with massive fiscal stimulus measures, are likely to exert downward pressure on the US dollar and elevate inflation expectations. These factors are conducive to higher gold prices in the medium to long term.

It is essential to note that Credit Suisse’s forecast is not infallible. The markets are inherently unpredictable and can be influenced by unforeseen events, such as geopolitical tensions or sudden shifts in investor sentiment. Additionally, technical analysis should be considered alongside fundamental analysis and other market indicators for a comprehensive understanding of gold price dynamics.

In conclusion, Credit Suisse’s gold price forecast suggests that XAU/USD will find strong support at the 200-DMA of $1,856. The firm’s analysis takes into account multiple factors contributing to gold’s recent rally and the potential for future price movements. However, investors should always apply their own judgment and consider multiple perspectives before making any investment decisions.


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