Gold Price Forecast: XAU/USD to see another leg higher once above hurdle at $2,070/$2,075 – SocGen
|Gold has regained upward momentum. Strategists at Société Générale analyze the yellow metal’s technical outlook.
Gold poised to challenge previous highs at $2,070/$2,075
Gold looks poised to head higher towards the graphical levels of $2,070/$2075 representing highs of 2020 and 2022 and more importantly the upper part of the large sideways range which has been in force for more than three years.
Once Gold overcomes the hurdle at $2,070/$2,075, next leg of uptrend is expected to materialize. Further objectives are located at projections of $2,180 and $2,240.
The 200-DMA near $1,933 is near term support.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.