Gold Price Forecast: XAU/USD short outlook looks strong – ANZ Gold XAUUSD Banks Metals Fed
extended gains following the collapse of Silicon Valley Bank. The shifting expectations of US federal fund rates are likely to see strong support for haven assets such as Gold, economists at ANZ Bank report.“The precious metals allure as a safe haven asset saw strong demand from investors. This was aided by a sharp reassessment of the direction of
policy. The market’s expectations of smaller rate hikes saw the 10y yield on Treasuries fall to a six-week low, while the USD erased its gains for the year.”for Gold looks strong. The precious metal has jumped above its 50-Day Moving Average, signalling a change in momentum. With investor allocation relatively low, we expect this to continue.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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