Gold price to extend the bounce towards $1916/32 on a move beyond $1835 - SocGen

Market news

7 September 2021

Gold price to extend the bounce towards $1916/32 on a move beyond $1835 - SocGen

FXStreet reports that strategists at Société Générale believe that gold (XAU/USD) needs to erode the $1835 to see further gains.

“A move beyond $1835 can result in an extended bounce towards $1885 and June peak of $1916/1932.”

“First support is at $1790/1780, the 38.2% retracement of the bounce.”

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