Gold forecasts to move to $2,200/oz in Q1 2021 – UOB

A UOB (United Overseas Bank) Group strategist said on the outlook for Gold next month:

From a technical perspective, “the upward momentum is strong and the focus is US$2,000. The next notable resistance above US$2,000 is around US$2,040, followed by US$2,100.

“Basically, various positive factors in gold prices, especially those in large central bank easing, remain strong. However, gold price behavior is increasingly speculative and changes during the day. Will grow larger.”

Many people think that gold has already exceeded 2,000 dollars. I haven’t changed my eyes.

However, in the short term, speculative trades are expected to come in at around $2,000, so it is worth noting that the price movement will be rough. I imagine that if it goes on, it may penetrate all at once and suddenly rise and fall.

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