fxs_header_sponsor_anchor

News

Gold Price Forecast: XAU/USD’s end of 2023 target raised to $1,900 – ANZ

Economists at ANZ Bank have raised their Gold price forecast for the end of next year to $1,900. 

Some scope for a retracement of recent gains in the near term

“Short term, we see some scope for a retracement of recent gains. This would be largely off the back of a stronger USD. Investor positioning shows non-commercial short positions built to a sizeable level in Q3 2022, but some of those positions have been trimmed as expectations of a slower rate hike cycle developed.”

“As global growth slows through Q2 amid elevated geopolitical risks, we expect safe haven buying to lift the gold price. We have subsequently raised our year-end (2023) target to $1,900.”

See – Gold Price Forecast: XAU/USD may shine again, seen at $1,850 by end-2023 – Commerzbank

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.