Gold has broken price support at $1,877. XAUUSD is seen at risk to a test of support from its nine-month uptrend and 200-day moving average (DMA) at $1,836/26, economists at Credit Suisse report.

Move above $1,998 is needed to reassert an upward bias

“We look for a fall back to the uptrend from last August and 200-DMA at $1,836/26, but with fresh buyers expected here.”

“A weekly close below $1,826 though would warn of a retest of pivotal long-term support at $1,691/77.”

“Above $1,998 is needed to reassert an upward bias for a retest of the $2,070/75 record highs.”