XAUUSD: Forecast for the next week!

Gold prices have weakened and dropped below 1920 on Friday. The yield on the 10-year US Treasury bond remains above 4.1% after data on the Producer Price Index (PPI) for July came in higher than expected, making it difficult for XAU/USD to maintain its position.

Predict that gold price will continue to increase in the trend of USD recovering. Downtrend continues.

Comment:

Gold weakness has extended back to key support at 1,898/1,893 but strategists at Credit Suisse continue to look for a floor here.