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- Gold Price Forecast: Room for a short-term XAU/USD correction – ANZ
Gold Price Forecast: Room for a short-term XAU/USD correction – ANZ
Gold is moving with US Fed rate cut expectations. Economists at ANZ Bank analyze the yellow metal’s outlook.
Positive view on Gold for the year
Market expectations of an early rate cut by the Fed are waning, creating short-term headwinds for the Gold price. This could be magnified by easing safe-haven buying as geopolitical risks abate.
Nevertheless, we continue to hold a positive view on Gold for the year. A transition from tightening monetary policy to easing in H2, elevated geopolitical risks and strong central bank buying should bode well for Gold investment demand. With asset allocation to the sector still low, strong investor demand is likely. This also limits the likelihood of heavy liquidation of positions in the short term.
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