Gold price has held up relatively well amid rising bond yields and rebound in the USD. Economists at ANZ Bank analyze the yellow metal’s outlook.
Headwinds to have limited impact on Gold over the coming months
Gold prices have been resilient in the face of rising US Treasury yields and a stronger USD. While the ‘higher rates for longer’ narrative gains momentum in response to strong US economic data, we see these headwinds having limited impact on Gold over the coming months.
We expect Gold to trade near $2,000 by the end of this year.
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