Gold prices continue to tighten in the region where they moved last year. The price of an ounce of gold is trading at $ 1,815 at the time of writing. While many people hope to experience the high momentum seen in 2020 in 2022, major financial firm Credit Suisse sees downside risk this year. The factors behind this are the US real returns and the increase in the US dollar. cryptocoin.com We convey the comments of the analysts of the famous company…
Credit Suisse predicts a possible depreciation in the gold price
Rising US real yields and a stronger dollar are expected to weigh on gold. According to analysts, it is necessary to go below $1,759 and $1,754 to pave the way for a retest of the key price. On the other hand, the lower end of the range, the $1,691 and $1,677 levels, act as pullback support. At the time of writing, gold is trading at $1,815 an ounce.
A break above $1,877 is needed to ease these top fears. However, experts state that they see a more sustainable move with a break above $1,917. If they break above this level, they think there is a potential return to the record high of $2,075. Analysts of the famous financial institution Credit Suisse include the following statements in their analysis:
In addition to completing a large base for 10-year US real returns, a stronger US dollar is expected to put downward pressure on the gold price and increase the risk of not reaching the top.
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