Gold Price Forecast: XAU/USD to trade at $1,800 towards the end of Q1 2022 – ANZ

The hawkish stance of central banks is the headwind for gold investments but geopolitical conflicts could enhance the safe-haven appeal of the yellow metal. All in all, strategists at ANZ Bank expect XAU/USD to hover around $1,800 by the end of the first quarter.
A stronger USD is a headwind but elevated inflation could mitigate the impact
“The backdrop for gold is deteriorating as central banks become more hawkish. However, elevated inflation and geopolitical risk are partially offsetting the impact of tightening monetary policies.”
“Retail investments and physical offtake have been resilient. We believe gold will trade at $1,800/oz towards the end of Q1 2022.”
See – Gold Price Forecast: XAU/USD to break under $1,745 and start a sustained downtrend in July – TDS
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FXStreet Insights Team
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