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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Gold plummets below $4,200 as US‑Iran tensions spur hawkish rate bets ahead of US CPIGold (XAU/USD) extends the recent breakdown momentum below a technically significant 200-day Simple Moving Average (SMA) and drops to a fresh low since March 23, further below the $4,200 mark during the Asian session on Wednesday.
Gold (XAU/USD) extends the recent breakdown momentum below a technically significant 200-day Simple Moving Average (SMA) and drops to a fresh low since March 23, further below the $4,200 mark during the Asian session on Wednesday.
West Texas Intermediate (WTI) oil price remains subdued after registering over 5.5% losses in the previous day, trading around $85.00 per barrel during the Asian hours on Friday.
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