Gold: Perfect backdrop for higher prices to sustain – ANZ


In view of ANZ analysts, falling US treasury yields, inverted yield curves, rising fears of recessions along with easing interest rates have created perfect backdrop for higher gold prices to sustain.

Key Quotes

“We believe gold remains relevant given the elevated economic and geopolitical risks. Investors will continue to shift their strategic portfolio positions in favour of gold.”

“Safe-haven flows continued to build in gold, with ETF holdings rising to six-years high of 2393t. Further, central banks bought 374.1t of gold, as emerging markets tried to diversify their reserves.”

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD remains capped below 1.11 growth and trade concerns

EUR/USD is drifting off the highs and trades below 1.11. Weak US data on Wednesday weighs on the dollar and souring US-Sino relations weigh on sentiment. 

EUR/USD News

GBP/USD falls below 1.28 as DUP casts doubts about the Brexit deal

GBP/UDS is trading below 1.28. The DUP has rejected critical elements of the Brexit deal. UK PM Johnson is trying to find a formula that is agreeable for MPs and the EU. UK Retail Sales remained flat in September as expected.

GBP/USD News

USD/JPY: stuck in a range above mid-108.00s pivotal point

The pair was seen consolidating the recent gains to over two-month tops. The near-term bias might have already shifted in favour of bullish traders.

USD/JPY News

Gold: Under pressure in Asia, $1,477 is key support

Gold created an inside bar candle on Wednesday, signaling indecision in the market. A break below the candle's low of $1,477 would put the bears in a commanding position.

Gold News

US Retail Sales: Reports of their death have been greatly exaggerated

Retail sales unexpectedly fell in September for the first time in seven months and the GDP component control group was flat, eliciting concerns that the manufacturing contraction might be starting to damage the far larger consumer sector.

Read more

Forex MAJORS

Cryptocurrencies

Signatures