Gold to set a record high in the next months – ANZ


Share:

Strategists at ANZ Bank expect gold to hit a record high in the second half of 2020 due to a challenging economic environment though, an increase in risk appetite has been a strengthening headwind for the yellow metal.

Read: Gold bull trend to resume for a test of $1796/1803 – Credit Suisse

Key quotes 

“A kick-start to another rally in the gold price remains elusive. The market’s confidence that the most acute stage of the pandemic has passed in many countries has seen risk appetite improve. With investors now betting stimulus measures will bridge the gap to more normal growth.” 

“We remain bullish over the medium-term. The macro backdrop is challenging, despite market confidence in the trend towards normalised growth. The expansion of central banks’ balance sheets shows no sign of abating, while geopolitical tensions escalate.” 

“We think those investors who continue to raise their allocation to precious metals are sitting on a gold mine.”

 

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 hovers around 0.6550 as FOMC Minutes loom

AUD/USD hovers around 0.6550 as FOMC Minutes loom

The Australian Dollar advanced vs its American rival on Tuesday, holding on to gains ahead of the most relevant event of the week, the FOMC Meeting Minutes. Australian wage growth and Westpac Leading Index coming up next.

AUD/USD News

EUR/USD confortable above 1.0800, buyers hesitate

EUR/USD confortable above 1.0800, buyers hesitate

The EUR/USD pair maintained its positive momentum and settled near a fresh three-week high as market players dumped the Greenback on mounting speculation the Federal Reserve will delay rate cuts until June.

EUR/USD News

Gold holds on to fresh gains near $2,030

Gold holds on to fresh gains near $2,030

Spot Gold extends its upward route on Tuesday, posting gains for a fourth consecutive day. XAU/USD trades around $2,030, its highest in over a week. The US Dollar suffers from mounting speculation the Federal Reserve (Fed) will keep rates higher for longer, as officials have been anticipating. 

Gold News

Bitcoin price leans south to send almost $160 million worth of longs under water

Bitcoin price leans south to send almost $160 million worth of longs under water

Bitcoin price has shown weakness, sending millions of long positions underwater. It comes after a prolonged consolidation, making the outcome expected considering markets tend not to wait so long.

Read more

Three fundamentals for the week: FOMC Minutes, Jobless Claims, and Flash PMIs stand out Premium

Three fundamentals for the week: FOMC Minutes, Jobless Claims, and Flash PMIs stand out

The FOMC Meeting Minutes stand out as investors fear higher rates for longer. Jobless claims and forward-looking PMIs promise a turbulent Thursday in markets. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures