Gold Price Forecast: XAU/USD downside looks protected near $1,900 – ANZ
|In the view of strategists at ANZ Bank, tightening monetary policies could dampen investors’ appetite for gold. However, the yellow metal is unlikely to slide below the $1,900 level.
XAU/USD to trade near $1,950 over next three months
“Global central banks are beginning to tighten monetary policy in a bid to contain inflation. Worsening supply chain disruptions and elevated commodities prices may prompt the US Fed to make more aggressive rate hikes through the year. This could dampen investors’ appetite for gold, but its downside looks protected near $1,900/oz over the next six months.”
“We expect gold prices to trade near $1,950/oz over next three months and average $1,900/oz for this year.”
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.