XAU/USD to edge higher towards $1900 – ANZ

XAU/USD to edge higher towards $1900 – ANZ

Strategists at ANZ Bank reiterate their positive stance on gold over the next three months. Record low US real-yield, delay in tapering, expensive equity valuation and prospects of weaker dollar still suggest XAU/USD to grind higher towards $1,900/oz.

See – Gold Price Forecast: XAU/USD to extend the bounce towards $1916/32 on a move beyond $1835 – SocGen

US real yield

“Record low yields are again turning in favour of non-yielding gold investment.” 

US dollar

“Weakness should continue to be a key support for investor demand.”

Physical demand

“Physical demand in India and China is set to improve ahead of festive season.” 

Monetary policy

“Waning likelihood of monetary tightening looks supportive in the near-term.”


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