Credit Suisse forecasts for gold prices in 2023 by the Arab trader

Credit Suisse forecasts for gold prices in 2023 by the Arab trader
Credit Suisse forecasts for gold prices in 2023 by the Arab trader
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Credit Suisse forecasts for gold prices in 2023

Arabictrader.com – Economists at Credit Suisse Bank expected today, Wednesday, that it will continue its gains during the coming period, after the yellow metal recorded its highest daily closing since last April.

Experts at the bank indicated that the yellow metal is expected to enjoy more gains, and for gold to extend its gains to the next resistance near the highest price in April 2022 at $1,973, or $1,998 an ounce.

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Analysts at the Swiss Bank continued that the rise of gold above the record high levels at $2075 an ounce, which it recorded in 2020 and 2022, may indicate that we will witness an important and useful long-term breakthrough to the top with resistance levels, which may be near $2300, then $2500. In the negative scenario, gold may find support at $1897 initially, then, if it declines, it may retreat towards the next support at $1825 an ounce.

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It is noteworthy that the economists at TDS Bank presented their expectations about the upcoming movements of gold, as analysts believe that gold will continue to rise during the coming period, expecting that gold will exceed the level of $ 1970 an ounce, amid expectations about the US Federal Reserve slowing down the pace of raising interest rates, and expectations indicate that the US Federal Reserve will It is likely to raise the interest rate by 25 basis points in the February meeting, which will negatively affect the American dollar, and enhance gold’s gains.

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