Quotes Gold show a downward trend the past few years, many traders and investors are interested in, when the price of gold will rise and what the forecast price of gold in 2017.
XAU USD Forecast Gold price 2017
For example, Sberbank expects that prices may show growth in 1150 and to test the area in the next year, but towards the year 2020 the price of gold will rise to the level of $ 1,200. Expect the price of gold at 1195 Deutsche Bank analysts, in turn, Morgan Stanley indicates the maximum level in 1173 dollars.
One of the most accurate forecasters in gold, indicating a gradual decline in prices in 2017, the 1st quarter of the price will be at the level of 1175 2nd quarter of XAU USD will test the area in 1150, in the 3rd quarter of the price will drop to the level of 1125 and the 4th quarter gold will cost $ 1,100.
From a technical point of view, the price of gold is really moving in a downtrend and could push off from the resistance line that confirms the bearish sentiment on the XAU USD. Moreover there has completed the formation of reversal pattern Forex Head and shoulders, which also indicates a continued decline in the region below the local minimum of the potential breakdown of the field 1045. However, do not rule out an attempt to correct the neckline is broken and only after that loss. An additional signal acts sample support line on the indicator of relative strength, it also points to a potential drop in the support area with a high probability of breaking through this level. Cancellation option working out the model camp of the strong rise in prices for gold in 2017 above the level of 1345, in which case we should expect the continuation of bullish trend. However, in the case of acceleration of falling XAU USD quotations and fixing below 1000 is expected to continue falling and are near major support is the area below the level of 700 dollars.
XAU USD Forecast Gold price 2017 suggests an attempt to continue the reduction of the price of gold as part of a downward trend with the potential spruce at 1050, the cancellation option will reduce the strong growth and yield XAU USD quotes outside the region in 1350.
