Gold Price Forecast: XAUUSD has the $1,950 mark in its crosshairs – ANZ

FXStreet Insights Team FXStreet

Sustained inflation is raising recession concerns, which should benefit gold, according to economists at ANZ Bank. In their view, XAUUSD could reach the $1,950 mark.

Heightened geopolitical risks should protect the yellow metal

“Supply-driven inflation looks difficult to slow by rate hikes alone and this should keep real rates conducive for gold prices. Signs of slowing global economic growth and heightened geopolitical risks should also protect the price.”

“We expect gold to find a floor at around $1,800, with upside potential of $1,950.”

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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