- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD well positioned to hit $2,250 Q2 target – TDS
Gold Price Forecast: XAU/USD well positioned to hit $2,250 Q2 target – TDS
Gold dipped 1.1% after the US inflation print came in higher than expected. Economists at TD Securities analyze the yellow metal’s outlook.
Gold may drift modestly lower toward the $2,025-$2,100 range
The February CPI came in hotter than expected, with core up 0.4% MoM to 3.8% YoY, and headline up 0.4% MoM to 3.2% YoY. The implication is that the Fed may not be ready to cut rates just yet.
The outsized rally which took Gold up from the $2,020s to nearly $2,200 may well give back some gains, as some of the recent long extensions are liquidated or buying momentum slows. It would not be a surprise to see Gold drift modestly lower toward the $2,025-$2,100 range.
The US central bank is gearing up to cut and despite disappointing CPI print, US monetary policy authorities are likely to judge that price pressures are coming off.
As long as economic data continues to soften, Gold is well positioned to hit our $2,250 Q2-24 target.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
