Gold Price Forecast: XAU/USD to form an uptrend on a breach above $1870 by year-end – TDS
Precious metal prices have crossed the threshold for a trend reversal, challenging the bull market despite lingering inflation risks. Economists at TD Securities note that gold outperforms silver in stagflation whereas the yellow metal is set to form an uptrend on a break above $1870 by end-2021.
$1870 is a critical threshold for a change in XAU/USD trend
“Slowing global growth momentum and portfolio effects from tapering QE should impact silver more than gold.”
“Gold should benefit from rising central bank interest while presenting optionality for an inflation overshoot, as prices need only breach $1870/oz by year-end for an uptrend to form.”
Reference: FXStreet
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