Gold Price Forecast: Haven buying remains supportive for XAU/USD – ANZ
|Last week, Gold (XAU/USD) recorded minor gains and ended above the $2,030 mark. Economists at ANZ Bank analyze the yellow metal’s outlook.
Fed officials warned patience is needed before they start cutting rates
Gold managed to eke out a small weekly gain despite policymakers remaining hawkish.
Federal Reserve officials warned patience is needed before they start cutting rates. This has seen investors dump holdings in the world’s largest Gold-backed exchange-traded fund (ETF). However, haven buying remains supportive due to geopolitical risks in Ukraine and the Middle East.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.