Gold Price Forecast: Macro backdrop remains supportive for XAU/USD – ANZ Gold XAUUSD Fed Bonds Banks
“Gold prices came under pressure amid mounting expectations of US rates staying higher, which gave fresh support to the USD. Rising US yields weighed on the non-yielding yellow metal, as it increases the opportunity cost.”
“While market expectations around the Fed’s stance are likely to guide Gold in the short-term, we see the macro backdrop remaining supportive for Gold with the Fed pausing its hiking cycle and the USD resuming its downtrend.”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.
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