Gold Price Forecast: XAU/USD to trade towards $2,300 by the end of 2024 – ANZ
Source Fxstreet
Gold prices have been scaling new highs in March. Economists at ANZ Bank analyze the yellow metal’s outlook.
A retracement looks likely in the short term
While we continue to hold our long-term positive view, a retracement looks likely in the short term. A price pull-back is an opportunity to build long positions.
We expect Gold to trade towards $2,300 by the end of 2024.
See – Gold Price Forecast: Push back in rate cut expectations from March to June may cap XAU/USD rally – ANZ
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Here is what you need to know on Thursday, August 13:
WTI declines below $82.50 as oil inventories rise far more than expectedWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.45 during the early Asian trading hours on Thursday. WTI declines on a larger-than-expected build in US crude oil inventories. Traders will closely monitor the developments surrounding US-Iran talks for fresh impetus.
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During Wednesday's Asian trading session, spot gold (XAUUSD) extended its rebound, reclaiming $4,400/oz. As of 11:08 Beijing time on August 12, spot gold was trading at $4,414.705/oz, up
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