Gold Price Forecast: XAUUSD surge towards $2,000 on a break above $1,900 – ANZ

Gold has been in the range of $1,800-1,850 since mid-May. Strategists at ANZ Bank expect the yellow metal to confirm an upside move on a break past $1,900.

XAUUSD is consolidating, the range looks indecisive

“The current price range of $1,800-1,900 will not provide any clear direction until prices break either side of the range.”

“A convincing break of above $1,900, which is also a trend break-out, will be required before a short-term bullish outlook can be called. Once this level breaks, prices could touch the previous highs of $1,950 and $2,000.”

“Key supports are at $1,800 and $1,760.”