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XAU/USD Gold Price Forecast to Edge Towards $1900

gold price forecast
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EDITOR NOTE: Strategists at ANZ Bank are the latest group to announce with their gold price forecast, how bullish they are on gold over the coming weeks and months. These strategists believe there are serval factors that will drive gold toward the $1,900/oz. mark. These factors include a record low US real-yield, the Fed delaying tapering until the jobs market improves, physical demand for gold driven by places like India and China, and, of course, the prospect of a weaker dollar. If these strategists are right, buying non-fungible gold and silver now, before the prices explode could pay off in a big way.

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.”

Originally posted on FXstreet

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