Gold Price Forecast: XAUUSD to maintain upward bias while above $1,877 – Credit Suisse

Gold rose to its highest level in a month at $1,978 on Tuesday. The yellow metal holds a slight upward bias in its broader sideways range, economists at Credit Suisse report.

Break above the $2,070/75 highs to resolve the range higher for a fresh bull trend

“Gold above $1,877 can maintain an immediate upward bias in the broader sideways range.”

“Only above the $2,070/75 highs though would be seen to resolve the range higher for a fresh bull trend, with resistance then seen at $2,280/2,300.”

“A break below $1,877 can further reassert the broad sideways range with support then seen next at $1,845, then $1,826/06.”