XAU/USD to see additional gains on a break above record high of $2,075 – Credit Suisse

Gold has seen a decisive rejection of its $2,075 record high to leave the core trend sideways. The yellow metal would need to surpass this mark to enjoy further upside, strategists at Credit Suisse report.

A break below $1,877 can further reassert the broad sideways

“Only above its $2,075 record high would be seen to resolve the lengthy sideways range higher for a fresh bull trend with resistance then seen at $2,280/2,300.”

“A break below $1,877 can further reassert the broad sideways range with support then seen next at $1,845, then $1,818/08.”