Forecast for the price of gold: XAU/USD will finally go to new high record

Last week, gold reached record highs before unexpectedly dipping downward on Friday. Keep your bias in favor of a climb to new record highs over $2,070/75, according to economists.

Currently, resistance from gold's record highs of $2,070 and $2,075 has held the metal back. We anticipate that the $2,070/2,075 highs will continue to act as a strong barrier for the time being for more sideways consolidation since a rising negative divergence is still there.

Support is initially indicated around $1,969, followed by $1,950/48, which also contains the 55-DMA, which we would aim to maintain if hit.
"We think the market will eventually climb to new record highs, backed by lower US Real Yields, after the present range period. A major break higher at or over $2,075 on a weekly closing basis would allow for a move toward our first core upside goal of $2,330 or 2360.