Strategists at ANZ Bank reiterate their positive stance on gold over the next three months. Record low US real-yield, delay in tapering, expensive equity valuation and prospects of weaker dollar still suggest XAU/USD to grind higher towards $1,900/oz.
See – Gold Price Forecast: XAU/USD to extend the bounce towards $1916/32 on a move beyond $1835 – SocGen
US real yield
“Record low yields are again turning in favour of non-yielding gold investment.”
US dollar
“Weakness should continue to be a key support for investor demand.”
Physical demand
“Physical demand in India and China is set to improve ahead of festive season.”
Monetary policy
“Waning likelihood of monetary tightening looks supportive in the near-term.”
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD met support around 0.6700
AUD/USD finally regained stability, reversing a multi-day downtrend after briefly testing the key support level at 0.6700, despite a modest rise in the US Dollar following firm US CPI data.
EUR/USD: The short-term outlook appears negative
EUR/USD extended Wednesday’s decline, breaking below the 1.0900 support level amid ongoing weakness in the Euro and modest gains in the Greenback, which were bolstered by stubborn US inflation and remarks from the Fed’s Bostic.
Gold grinds north above $2,620
Gold price bounced sharply after nearing the $2,600 mark, now trading around the $2,620 level. The US Dollar saw a short-lived spike following the release of US data, which came opposite to the Fed needs.
Ethereum Price Forecast: ETH could decline to $2,200 amid rising US inflation and exchange reserves
Ethereum (ETH) plunged 3.8% on Thursday following a hike in US inflation data and rejection near its 50-day Simple Moving Average (SMA).
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.