Global financial powerhouse Goldman Sachs raised its gold price forecast this week,
expecting the rally to continue due to currency debasement fears and economic
uncertainty caused by the coronavirus crisis. Goldman Sachs lifted its three,
six and 12-month gold price estimates to $1,800, $1,900 and $2,000 per ounce,
from $1,600, $1,650 and 1,800 per ounce, respectively.
Technical View-
On a daily chart we can see since April its has been in a range.
Last whole week it took a support on 20 day EMA, and last day it has
given a break out above short term resistance line. It seems bullish
for this week.
expecting the rally to continue due to currency debasement fears and economic
uncertainty caused by the coronavirus crisis. Goldman Sachs lifted its three,
six and 12-month gold price estimates to $1,800, $1,900 and $2,000 per ounce,
from $1,600, $1,650 and 1,800 per ounce, respectively.
Technical View-
On a daily chart we can see since April its has been in a range.
Last whole week it took a support on 20 day EMA, and last day it has
given a break out above short term resistance line. It seems bullish
for this week.