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
Silver struggles to capitalize on the overnight modest rebound from the $36.20 area, or a nearly four-week low, and trades with a negative bias during the Asian session on Friday.
The Australian Dollar (AUD) holds ground against the US Dollar (USD) on Tuesday.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next MoveWith the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
Gold declines below $4,500 on stalled US-Iran ceasefire talks, US NFP data loomsGold price (XAU/USD) edges lower to near $4,470 during the early Asian session on Friday. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday.
Gold price (XAU/USD) edges lower to near $4,470 during the early Asian session on Friday. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday.
Related Instrument
