Gold: Looking for new highs above $1921 – Credit Suisse

Gold resumes its bull trend as expected and strategists at Credit Suisse continue to look for eventual new record highs.

Key quotes

“Gold has quickly resumed its uptrend for a move above its ‘measured base objective’ at $1700/05 as expected and our core outlook stays bullish following the completion of a multi-year base in 2019.” 

“We see resistance at $1796/1803 next.” 

“Big picture, we continue to look for new highs above $1921. Below key price support at $1453/46 is needed to change this view as this would mark a top, turning the risk lower as well as ending our long-held bullish outlook.”