Gold Price Forecast: XAU/USD year-end forecast upgraded to $2,300 from $2,200 – ANZ
Source Fxstreet
Gold price has been scaling new highs in March. Economists at ANZ Bank analyze the yellow metal’s outlook.
Lifting the baseline of the Gold price range
While we continue to hold our long-term positive view, a retracement looks likely in the short term. A price pull-back is an opportunity to build long positions.
As the recent rise requires a lift of the price baseline, we upgrade our year-end forecast to $2,300 from $2,200.
See – Gold Price Forecast: XAU/USD well positioned to hit $2,250 Q2 target – TDS
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Spot gold traded at $4,080.79 after a roughly 6% weekly rally from the Oct 30 low of $3,869.85, touching $4,146.63 on Nov 5. Three bids are stacked into the move: real-rate relief, record official-sector buying, and a geopolitical premium. Tonight's October payrolls (+65K consensus, 4.2% unemployment) decide which bid survives, with $4,000 and $4,200 as the two lines.
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