• Gold Price Forecast: XAU/USD to see another leg higher once above hurdle at $2,070/$2,075 – SocGen

Market news

30 tháng 10 2023

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.

 

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.