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
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 2, 2026. Read on for the details.
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 3, 2026. Read on for the details.
Gold closed at $3,946, up 1.84% from a one-year low of $3,870.25, as Brent's 7.6% slide cut December hike odds to 77%. ETF holdings are still shrinking — a short-covering bounce, not new money.
Brent settled at $103.60, its lowest close since October 7 and an 8% weekly drop on US-Iran talks. Yet API crude stocks fell 5.267 million barrels versus a 2.1 million build expected.
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 4, 2026. Read on for the details.
Related Instrument
