Gold Price Forecast: XAU/USD to see strategic buying emerging around $1,850 – ANZ

Gold has hit its lowest levels since March. Economists at ANZ Bank analyze the yellow metal’s outlook.

Favorable rate differentials in the US should keep the USD on a strong footing

Increasing conviction around narrative of ‘higher for longer rates’ is tarnishing the investment appeal of Gold in the near term. 

Favorable rate differentials in the US should keep the USD on a strong footing. Nevertheless, we see strategic buying emerging around $1,850 as long-term drivers remain in place.

See – Gold Price Forecast: XAU/USD could drop into the low $1,800s – TDS