The price of gold, which had changed hands from $ 1,794 at the time of writing, has dropped below $ 1,800 an ounce again, and according to analysts, increasing real returns should put pressure on gold. According to analysts at Swiss-based financial institution Credit Suisse, the precious metal may be in the throes of a major “peak”. Cryptocoin. com
As , we convey the comments of the analysts of the famous institution on the precious metal…
Credit Suisse analysts: Gold resistance at $1,877 expected to be capped
Analysts operating at Credit Suisse, a bank and finance company headquartered in Zurich and serving for more than 100 years, share their gold analysis. Analysts’ baseline is that inflation expectations and top 10-year US real yields are in the process of undergoing a largely downward transformation. According to analysts, if their views are correct, this suggests that “gold actually formed a big and important peak”.
Immediate risk is seen at $1,759 for next support. If this level is broken, it can be considered that a retest of the important long-term support at $ 1,691 and $ 1,677 can be considered. Any dip below this second area marks a major top, according to analysts. Finally, Credit Suisse strategists use the following statements:
The $1,877 resistance is now expected to topple, but just seeing levels above $1,917 could be an indication that we’re seeing a significant rise.