Gold Price Forecast: XAU/USD pull-back looks likely without fresh supporting fundamentals in Q2 – ANZ
Source Fxstreet
Gold (XAU/USD) has risen above $2,200. Economists at ANZ Bank analyze the yellow metal’s outlook.
The timing and pace of the easing cycle will be crucial
Increasing geopolitical risks come to the fore to favour haven demand.
The market is ignoring expectations around the Fed’s easing of monetary policy and remains more focused on rate cuts occurring in the second half of 2024. We expect cuts to begin in July.
We remain positive on the price, but a pull-back looks likely without fresh supporting fundamentals in Q2. Our year-end price target is still $2,300.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Gold price (XAU/USD) extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East.
Gold slumps to near $5,050 on oil-driven inflation fears, stronger US DollarGold price (XAU/USD) falls to around $5,065 during the early Asian session on Monday, pressured by a stronger US Dollar (USD) and inflationary risks. Traders will closely monitor the developments surrounding the US-Iran conflicts and geopolitical risks in the Middle East.
Gold price (XAU/USD) falls to around $5,065 during the early Asian session on Monday, pressured by a stronger US Dollar (USD) and inflationary risks. Traders will closely monitor the developments surrounding the US-Iran conflicts and geopolitical risks in the Middle East.
West Texas Intermediate (WTI) crude oil price gave up gains from the previous session, trading around $81.70 per barrel during the Asian hours on Wednesday.
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