Gold Price Forecast: XAU/USD next objectives at $2,250/$2,360 – SocGen
Source Fxstreet
Economists at Société Générale analyze Gold (XAU/USD) technical outlook.
Pause likely short-lived
Gold recently gave breakout above multi-year rectangle denoting resumption in uptrend. It has staged an initial pullback after facing interim hurdle at $2,230 last week. Signals of large downside are not yet visible. Upper part of the pattern at $2,075/$2,065 should be a crucial support zone.
Weekly MACD is anchored within positive territory highlighting prevalence of upward momentum. The uptrend is likely to persist. Next potential objectives are located at $2,250 and projections of $2,360. Target for the rectangle is located near $2,460.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold (XAU/USD) rises and hits its record high around $4,505 during the Asian session on Wednesday. The precious metal gains momentum as the Israel-Iran conflict and the rising in US-Venezuela tensions boost the safe-haven demand.
Silver price (XAG/USD) rallies further to near $72.70 during the early European trading session on Wednesday.
After failing to turn the $90,000 area, Bitcoin (BTC) continues to move within its local range with apparent no clear direction. Some market observers have suggested that the flagship crypto will
Bitcoin is predicted to potentially hit $100,000 following a significant options expiry valued at $23.7 billion.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
