XAU/USD to eventually retest the $2,063/75 record highs – Credit Suisse

Gold saw a sharp pullback on Thursday. But Gold is still expected to eventually retest the $2,063/75 record highs, economists at Credit Suisse report.

Weekly close below $1,883 would reinforce the longer-term sideways range

We maintain our long-held view for a major floor to be found the key rising 200-DMA of $1,883 and for an eventual retest of major resistance at the $2,063/2,075 record highs to be seen.

We still stay biased to an eventual break to new record highs later in the year, which would then be seen to open the door to a move to $2,150 next, then $2,355/65.

A weekly close below $1,883 though would be seen to reinforce the longer-term sideways range, and a fall to support next at $1,810/05.