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ANZ Bank economists emphasize that the Gold price will be heavily influenced by the timing and speed of the easing cycle.
XAU/USD to move sideways until the Fed confirms the timing and pace of its easing cycle
The Gold market is poised to closely monitor the Federal Reserve’s policy rate cut. With market expectations for the first rate cut of the cycle shifting from March to June, we anticipate prices to experience a sideways movement until the Fed officially confirms the timing and pace of its easing cycle.
Although the transition from a tightening to easing monetary cycle is a significant factor, coupled with elevated geopolitical risks and robust physical and central bank buying, we anticipate the Gold price to climb towards $2,200 by the end of the year.
