Gold Price Forecast: Confirmation of the timing and intensity of rate cuts should guide XAU/USD – ANZ
Source Fxstreet
Gold (XAU/USD) is trading above $2,000 despite waning rate-cut expectations. Economists at ANZ Bank analyze the yellow metal’s outlook.
Central bank Gold purchases continue
Higher-than-expected core inflation data in January dimmed prospects of an early and deep Federal Reserve rate cut. In early January, the market was pricing 150 bps of cuts starting from March, but that expectation has been delayed until June and reduced to 70-80 bps. Confirmation of the timing and intensity of rate cuts should guide Gold prices.
Central banks bought 30t of Gold in December, lifting official buying at 1,037t in 2023.
Gold’s spot premium in China and India suggests healthy physical demand.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As of the European session on July 2, WTI ( USOIL) crude oil prices fluctuated with a weak bias around $68, extending their prior downward trend. From a technical perspective, against the
Japanese Yen recovers sharply from 40-year low as intervention bets trigger short-coveringThe USD/JPY pair comes under intense selling pressure and plummets to the 161.00 neighborhood heading into the European session on Thursday, snapping a three-day winning streak to the highest since 1986 set the previous day.
The USD/JPY pair comes under intense selling pressure and plummets to the 161.00 neighborhood heading into the European session on Thursday, snapping a three-day winning streak to the highest since 1986 set the previous day.
On Wednesday (July 1), Eastern Time, Federal Reserve Chairman Warsh stated at the ECB's annual forum in Sintra, Portugal, that while recent US inflation expectations and inflation risks h
WTI slips below $68.00 as supply concerns easeWest Texas Intermediate (WTI) oil price loses ground for the third successive day, trading around $67.80 per barrel during the Asian hours on Thursday. The global energy market experiences a sharp downturn, with crude oil benchmarks sliding significantly as supply anxieties ease.
West Texas Intermediate (WTI) oil price loses ground for the third successive day, trading around $67.80 per barrel during the Asian hours on Thursday. The global energy market experiences a sharp downturn, with crude oil benchmarks sliding significantly as supply anxieties ease.
Bitcoin Price Trend Forecast: Continued ETF Outflows Limit Bitcoin Price Rebound Space, $58,000 Becomes Key Level for Bulls and Bears As of the European trading session on July 1, Bitcoin ( BTC) fluctuated around $58,700, hitting a new year-to-date low of $57,800 earlier in the day before recovering slightly, though it
As of the European trading session on July 1, Bitcoin ( BTC) fluctuated around $58,700, hitting a new year-to-date low of $57,800 earlier in the day before recovering slightly, though it
Related Instrument
