Os Tuesday, Gold XAU/USD registered its highest daily close since April. Strategists at Credit Suisse expect the yellow metal to enjoy further gains.
“Gold is expected to extend its rally to resistance next at the 78.6% retracement of the 2022 fall and April 2022 high of $1,973/98, with a fresh cap expected here.”
“Only above the $,2070/75 record highs of 2020 and 2022 would suggest we are seeing a significant and meaningful long-term break higher with resistance levels then seen at $2,300, then $2,500.”
“Support is seen at $1,897 initially, below which can see a pullback to $1,825.”
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