Note

GOLD PRICE FORECAST: XAU/USD EMBEDS A STRUCTURAL RISK PREMIUM – ANZ

Alan xi
· Views 55



Gold prices briefly hit $2,000 after Hamas’ attack on Israel before retreating recently. Economists at ANZ Bank analyze the yellow metal’s outlook.

Central bank Gold purchases to remain strong

Renewed geopolitical tensions will protect the downside in Gold prices. This is in addition to the conclusion of the US monetary tightening cycle and an imminent peak in the US Dollar. 

We expect central bank Gold purchases to remain strong. Based on current pace of purchase, we upgrade our demand estimates to 1,050t from 750t for 2023 and 800t for 2024.

 


Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.

Content related