Gold Price Forecast: Banking turmoil to reinvigorate XAU/USD investor demand over the longer term – ANZ
Gold price is consolidating the previous decline so far this Wednesday. However, economists at ANZ Bank expect US banking stress to reinvigorate investor demand over the longer term.
Investor allocation to Gold remains low
“The market’s expectation of a smaller Fed rate hike was supported by inflation data that came in as expected at 0.5% MoM for June. Nevertheless, demand for the safe haven asset remained strong.”
“Even with these gains, investor allocation to gold remains low. We expect this banking turmoil to reinvigorate investor demand over the longer term.”
Reprinted from FXStreet，the copyright all reserved by the original author.
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
Hot
No comment on record. Start new comment.