Gold Price Forecast: Recovering Dollar is likely to weigh on XAU/USD – ANZ
Source Fxstreet
Gold (XAU/USD) has risen along with geopolitical risks and expectations of US rate cuts. Strategists at ANZ bank analyze the yellow metal’s outlook.
Central bank Gold purchases rose
Heightened geopolitical risks should support haven investment in Gold; but waning market expectations of early rate cuts by the Fed and a rebound in the USD are likely to limit the upside.
Central bank Gold purchases remain strong and likely to reach 1,050t in 2023.
Demand for physical Gold still looks healthy.
See – Gold Price Forecast: The Fed’s explicit pivot will create a constructive outlook for XAU/USD – OCBC
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Goldman Sachs ( GS) 's latest precious metals research report on gold ( XAUUSD) price trends presents a "structurally bullish, tactically cautious" dual outlook, maintaining its year-end
The United Arab Emirates (UAE) has officially announced that it will formally withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance on May 1.Bl
Gold price (XAU/USD) holds steady near $4,600 during the early Asian session on Wednesday. The precious metal steadies as traders await a key Federal Reserve (Fed) interest rate decision later on Wednesday.
Global financial markets are set for a "Super Central Bank Week" this week, as five major central banks, including the Federal Reserve, the European Central Bank, and the Bank of Japan, a
The USD/JPY pair is seen consolidating in a narrow band around mid-159.00s during the Asian session on Tuesday as traders opt to wait for the crucial Bank of Japan (BoJ) before placing fresh directional bets.
Related Instrument
