Gold Price Forecast: Push back in rate cut expectations from March to June may cap XAU/USD rally – ANZ

The timing and pace of the Fed’s rate cuts are long-term drivers for Gold, strategists at ANZ Bank say.

The FOMC needs more confidence that inflation is returning to 2% before considering cuts

Currently, the FOMC needs more confidence that inflation is returning to 2% before considering cuts. 

We believe the cuts will commence from July 2024. Markets are pricing in cuts starting from H2 2024. That said, the push back in market expectations from March to June may cap the price rally.