Gold Price Forecast: XAU/USD to rebound slightly next year as Fed easing starts – ING


Share:

US Dollar strength and central bank tightening have weighed heavily on Gold in 2022. Next year, economists at ING expect Gold to rebound as Fed easing starts.

There is room for more downside with further tightening expected

“We expect Gold to remain on a downward trend during the Fed’s ongoing tightening cycle. But while in the short term we see more downside for XAU/USD amid monetary tightening, any hints from the Fed of an easing in its aggressive hiking cycle should start to provide support to prices. For this to happen, we would likely need to see signs of a significant decline in inflation.”

“We should see inflation coming off quite drastically over 2023 and this will then open the door for the Fed to start cutting rates over 2H23.” 

“Under the assumption that we see easing over 2H23, we expect Gold to move higher over the course of 2023 with XAU/USD reaching $1,850 in 4Q23.”

 

Share: Feed news

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.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

AUD/USD maintained its bullish view near 0.6600

AUD/USD maintained its bullish view near 0.6600

AUD/USD approached the key hurdle at 0.6600 the figure against the backdrop of the continuation of the rebound from last week’s yearly lows around the 0.6440 zone.

AUD/USD News

EUR/USD now retargets the 1.0900 barrier

EUR/USD now retargets the 1.0900 barrier

EUR/USD printed humble gains around the 1.0820 zone following an unsuccessful attempt to revisit or surpass the 1.0900 mark earlier in the session, always amidst further indecisive price action in the Greenback.

EUR/USD News

Gold challenging the $2,020 mark

Gold challenging the $2,020 mark

Spot Gold eased from a fresh multi-week high of $2,034.86. The US Dollar edged sharply lower during Asian trading hours and remained on the back foot through most of the European session but turned higher ahead of Wall Street’s opening. 

Gold News

Bitcoin price breakdown possible as European Central Bank says BTC fair value is still zero

Bitcoin price breakdown possible as European Central Bank says BTC fair value is still zero

Bitcoin price’s horizontal consolidation continues to extend, but the support level is wearing thin as the days go by. As the current state of uncertainty continues, it is imperative to remember that markets tend not to wait so long.

Read more

Big tech rises on a promising AI future

Big tech rises on a promising AI future

The S&P 500 surged to an all-time high on Thursday following Nvidia's much stronger-than-expected quarterly results, which buoyed the broader tech sector. Nvidia's stock soared more than 14.5% to reach an all-time high after the company reported a remarkable 265% year-over-year increase in total revenue.

Read more

Forex MAJORS

Cryptocurrencies

Signatures