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.
Recommended Articles
Bitcoin experiences significant volatility, dropping toward $87,000 ahead of a crucial Federal Reserve interest-rate decision.
EMJ Capital CEO Eric Jackson predicts Bitcoin could hit $50 million by 2041, arguing it will replace the Eurodollar system as the neutral collateral layer for global sovereign debt.
Gold Price Forecast: XAU/USD edges lower below $4,200 amid worries about hawkish Fed rate cutGold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Gold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
As institutional inflows into Bitcoin ETFs accelerate, active on-chain addresses are sliding, signaling a shift where investors prefer Wall Street wrappers over self-custody.
Michael Saylor and Strategy are heavily investing in Bitcoin, adding 10,624 more BTC to their already significant holdings, despite a tough year for their stock.
