The economists of ANZ Bank They maintain a bullish view and expect Gold to reach $2,120 in the first quarter of next year.
Risk could stem from divergence between Fed actions and market expectations
“Prolonged geopolitical tensions, such as the one between the US and China, will support investment demand as well as central bank buying. Therefore, we remain bullish and expect prices to reach 2,120 $ in the first quarter of 2024.”
“The risk to our bullish view could come from a divergence between US Fed actions and market expectations. Consensus estimates point to a rate cut in 2023, but our baseline view is no rate cuts in 2023.” Any unexpected political action could trigger price corrections, but such falls should be viewed as buying opportunities.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
