Gold Price Forecast: Strong investment demand will be critical to the direction of XAU/USD in H2 – ANZ
Source Fxstreet
Investment demand for Gold has not been moving in tandem with prices for more than a year. Strategic investment inflows will be crucial for the Gold price, economists at ANZ Bank say.
A less crowded investment in Gold presents significant upside potential
Record highs of equity markets, along with heightened geopolitical tension, will encourage investors to add Gold to portfolios.
In our view, a less crowded investment in Gold presents significant upside potential as this leaves more room for increasing Gold holdings.
We estimate investment demand to shoulder nearly 460t of Gold to keep the market balanced in 2024.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Gold (XAU/USD) drifts lower for the second straight day – also marking the fifth day of a negative move in the previous six – and drops to a nearly two-week low during the Asian session on Wednesday.
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