“We continue to be very optimistic about future prospects in the gold market, as precious metals are trading above the 200-day average of their value. Gold confidently maintains the support level of 1452-1446 dollars per ounce. We expect to achieve and overcome a record high of $ 1921 per ounce, ”the bank’s review reads.
It is worth recalling that during the financial crisis in 2008, a massive sale was observed in the gold market. But when the Federal Reserve intervened in the situation, the price of the yellow precious metal began to rise again until a new price record was set in 2011.
“It is very important to understand that the real return on financial instruments is no longer growing. We believe that the situation in 2009 will be repeated again, that is, after the correction, a long uptrend will begin, which will lead to new gold price records, ”analysts at Credit Suisse said.