XAU/USD’s finish of 2023 goal raised to $1,900 – ANZ

Economists at ANZ Financial institution have raised their Gold value forecast for the tip of subsequent yr to $1,900. 

Some scope for a retracement of current positive aspects within the close to time period

“Brief time period, we see some scope for a retracement of current positive aspects. This is able to be largely off the again of a stronger USD. Investor positioning reveals non-commercial brief positions constructed to a sizeable degree in Q3 2022, however a few of these positions have been trimmed as expectations of a slower price hike cycle developed.”

“As world progress slows by Q2 amid elevated geopolitical dangers, we count on secure haven shopping for to raise the gold value. Now we have subsequently raised our year-end (2023) goal to $1,900.”

See – Gold Price Forecast: XAU/USD may shine again, seen at $1,850 by end-2023 – Commerzbank