GOLD FORECAST : FITCH RATING, COMMERZBANK, CREDIT SUISSE

GOLD FORECAST : FITCH RATING, COMMERZBANK, CREDIT SUISSE

✅ FITCH RAISES 2021 XAU/USD PRICE FORECAST FROM $1400 TO $1600

Fitch has increased its price forecast for 2021 from $1,400 to $1,600 an ounce. Sees further gold weakness in the next few years, projecting $1,400 for 2022 and $1,200 for 2023.


✅ XAU/USD TO STABILISE BETWEEN THE $1653-$1707 ZONE – COMMERZBANK

✅ RISING REAL YIELDS RAISE THE PROSPECT OF A SERIOUS XAU/USD FALL – CREDIT SUISSE

"Gold has finally bowed to rising yields and the strengthening USD and key support at $1761 has been finally removed for the completion of a top. Although the 38.2% retracement of the 2018/2020 bull trend at $1726 is essentially holding for now we look for a clear break in due course for a fall to $1670 next, then $1620/15."

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