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Credit Suisse highlight the important gold price levels

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(Kitco News) - Analysts at Credit Suisse have noted that the yellow metal remains entrenched in its range, although still capped at its July/August highs at $1832/34

The report was not all doom and gloom as the research note said "Only a break above $1834 would be seen to complete an in-range base to clear the way for a deeper recovery to $1860, then $1917.".

On the downside, the team said " Although downward pressure is seen increasing, only below $1691/71 would mark a major top for an important change of trend lower, with support then seen at $1620/15 initially, before $1565/60."

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