Gold Price Forecast: Confirmation of the timing and intensity of rate cuts should guide XAU/USD – ANZ
Source Fxstreet
Gold (XAU/USD) is trading above $2,000 despite waning rate-cut expectations. Economists at ANZ Bank analyze the yellow metal’s outlook.
Central bank Gold purchases continue
Higher-than-expected core inflation data in January dimmed prospects of an early and deep Federal Reserve rate cut. In early January, the market was pricing 150 bps of cuts starting from March, but that expectation has been delayed until June and reduced to 70-80 bps. Confirmation of the timing and intensity of rate cuts should guide Gold prices.
Central banks bought 30t of Gold in December, lifting official buying at 1,037t in 2023.
Gold’s spot premium in China and India suggests healthy physical demand.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
The Gold price (XAU/USD) loses ground amid the stronger US Dollar (USD) and higher US Treasury bond yields on Tuesday.
Wietse Wind, founder of XRP Labs—one of the leading independent XRP Ledger development companies—has published an open letter to the community and Ripple.
Bitcoin (BTC) Price Struggles Put Short-Term Holders at a DisadvantageIn recent months, a cohort of Bitcoin (BTC) holders has been notably affected by the coin’s struggle to stabilize above $70,000. This group comprises short-term holders (STHs) — investors who have held the asset for less than 155 days.
In recent months, a cohort of Bitcoin (BTC) holders has been notably affected by the coin’s struggle to stabilize above $70,000. This group comprises short-term holders (STHs) — investors who have held the asset for less than 155 days.
Related Instrument
