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    Gold Price Forecast: Confirmation of the timing and intensity of rate cuts should guide XAU/USD – ANZ

    Source Fxstreet
    Feb 26, 2024 14:28

    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.
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    Source  Fxstreet
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    Source  Fxstreet
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