Gold Price Forecast: XAU/USD to struggle near term as Fed set to remain hawkish – ANZ Gold XAUUSD Fed UnitedStates Banks
Gold is likely to track shifting market expectations around the Fed tightening in the short term, according to strategists at ANZ Bank.“The Gold market remains vulnerable to market expectations around the Fed’s monetary policy. Strong economic data from the US with sticky inflation raise the risk of more rate hikes; this is likely to be a headwind in the short term.”
“Nevertheless, we see limited upside in the USD, which is a tailwind for gold prices. Even with higher terminal rates, the USD is likely to weaken in H2 2023.”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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