XAUUSD: Forecast for the next week!
Updated
Gold prices have weakened and dropped below 1920 on Friday. The yield on the 10-year US Treasury bond remains above 4.1% after data on the Producer Price Index (PPI) for July came in higher than expected, making it difficult for XAU/USD to maintain its position.
Predict that gold price will continue to increase in the trend of USD recovering. Downtrend continues.
Predict that gold price will continue to increase in the trend of USD recovering. Downtrend continues.
Comment
Gold weakness has extended back to key support at 1,898/1,893 but strategists at Credit Suisse continue to look for a floor here.
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