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
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Gold price (XAU/USD) extends its losses for the second successive session, trading around $4,930 per troy ounce during the Asian hours on Tuesday.
Gold (XAU/USD) attracts some follow-through selling for the second straight day and slides to the $4,922 area during the Asian session on Tuesday amid thin liquidity on the back of the Lunar New Year holidays in China.
Gold price (XAU/USD) attracts some sellers to around $4,860 during the early Asian trading hours on Wednesday. The precious metal falls amid thin holiday trading, with much of Asia closed for the Lunar New Year.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP face downside risk as bears regain control Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.
Related Instrument
