Gold Price Forecast: XAU/USD eyes $1,600 amid rising rates and stronger USD – ANZ Gold XAUUSD Fed Banks
“We now think USD strength will last longer than we had thought. Labour resilience means the Fed will have to hike further than the market is expecting. Deteriorating“Europe faces a serious energy crisis, which is a headwind for EUR and support for the USD. This makes us thinks the USD will peak in Q1 2023. In the face of sustained dollar strength, we see gold continuing to underperform.”
“Rising geopolitical and economic risks are doing little to entice safe-haven buying, with the USD still asset of choice. Nevertheless, the risk of either stagflation or outright recession could ultimately turn this around. Gold has traditionally outperformed in such environments.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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