Gold (XAU/USD) continues to benefit from the reduced haven demand for the US dollar and strategists at ANZ Bank forecast the yellow metal reaching the $2,300 level at the beginning of 2021.
“Ample money supply, lower interest rates and macro uncertainty should support gold investment.”
“Physical demand is recovering, so we see the gold price reaching $2,300/oz early next year.”
Author
FXStreet Team
FXStreet
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EUR/USD moves sideways in a narrow channel below 1.1800 as the market volatility remains low ahead of the New Year holiday. On Tuesday, investors will pay close attention to the minutes of the Federal Reserve's December policy meeting.
GBP/USD corrects lower after posting strong gains in the previous week and trades below 1.3500 on Monday. With the action in financial markets turning subdued following the Christmas holiday, however, the pair's losses remain limited.
Spot Gold traded as high as $4,550 a troy ounce on Monday, fueled by persistent US Dollar weakness and a dismal mood. The XAU/USD pair was hit sharply by profit-taking during US trading hours and retreated towards $4,300, where buyers reappeared.
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Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).
