Home Forex Dollar recovery likely to weigh on XAU/USD – ANZ

Dollar recovery likely to weigh on XAU/USD – ANZ

by SuperiorInvest


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Gold (XAU/USD) rose along with geopolitical risks and expectations of a US rate cut. ANZ strategists analyze the outlook for the yellow metal.

Gold purchases by the central bank increased

Elevated geopolitical risks should boost gold investment; but fading market expectations of an early Fed rate cut and a recovery in the USD are likely to limit growth.

Gold purchases by central banks remain strong and are likely to reach 1,050t in 2023.

Demand for physical gold still looks healthy.

See – Gold Price Forecast: Explicit Fed Pivot Creates Constructive Outlook for XAU/USD – OCBC

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