Gold Price Forecast: Rising yields are a headwind for XAU/USD – ANZ

FXStreet Insights Team FXStreet

Another leg higher in US Treasury yields and renewed USD strength are weighing on Gold prices. Economists at ANZ Bank analyze the yellow metal’s outlook.

Renewed strength in the USD is another headwind

A rise in US Treasury bond yields and the appreciation of the USD are exerting downward pressure on Gold.

The market is pricing another 25 bps hike by the Fed. If that materialises, real yields will rise further with moderating inflation, because higher yields increase the opportunity cost for holding Gold.

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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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