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    Gold Price Forecast: XAU/USD next objectives at $2,250/$2,360 – SocGen

    Source Fxstreet
    Mar 25, 2024 15:59

    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.
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