Record Forecast For Gold Prices: These Levels Are Coming! As we reported, on Monday, US President Joe Biden nominated Jerome Powell for a second term as Chairman of the Federal Reserve. Gold, which has been trying to recover for several days after this news, took a heavy hit and retreated about 2% as an initial reaction as DXY, which measures the value of the US dollar against six major currencies, rallied. Today, however, markets were relatively calm and gold prices fluctuated around $1,780. However, analysts at Commerzbank, who evaluated the market, do not seem so hopeless for gold.

Analysts make very ambitious forecasts for gold prices

Commerzbank analysts believe the $2,072 high for gold prices will be a catalyst breakout point on the upside. Analysts think that the bullish trend continues while gold is above the 2021 low of $ 1,677 and makes predictions that will delight gold investors in the long term:

Gold will remain in a long-term bullish move above the 2021 low of $1,677. In the long term, the target is 2052-$2,072, the high of 2020. If risks are seen (preferred), there will be an upside break that will target $2,300 and eventually $2,676-2,686.

Spot gold prices 1-day chart / Source: TradingView

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram and YouTube join our channel!

Disclaimer: The articles and articles on do not constitute investment advice. does not recommend buying or selling any cryptocurrencies or digital assets, nor is an investment advisor. For this reason, and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.

Warning: Citing the news content of and quoting by giving a link is subject to the permission of No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of in violation of intellectual property law and relevant legislation.

source site