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12 Jan 2023
Gold Price Forecast: XAU/USD keeps sight on $1,900 as bulls fight back control
Gold price is seeing fresh demand early Thursday as XAU/USD bulls refuse to give up, FXStreet’s Dhwani Mehta reports.
Favorable daily technical setup
“Acceptance above the $1,880 level remains elusive. Daily closing above the latter is needed to extend the uptrend, with bulls eyeing a sustained move above the $1,900 mark. The next upside target is seen toward May 2022 high at $1,910.”
“On the flip side, rejection above the $1,880 level could reinforce the downside toward Friday’s low at $1,865. Further down, the $1,850 psychological level will be the level to beat for Gold sellers.”
See – Gold Price Forecast: XAU/USD to see a meaningful long-term break higher above $2,070/75 – Credit Suisse