Gold price forecast: Economic geopolitical tensions, gold/dollar support - ANZ

Gold/USD will remain supported amid economic and geopolitical tensions. Gold's gains were not hampered by the postponement of expectations for a rate cut by the Federal Reserve. Economists at ANZ analyze the outlook for gold.

gold price forecast

According to analysis by economists at ANZ Bank, gold prices will remain supported in the current environment. Although the Fed's rate cut is expected to be delayed, geopolitical risks and economic uncertainty are still supporting gold.

economic and geopolitical tensions

Global economic growth is slowing, trade wars continue to heat up, and geopolitical risks are rising. These factors have supported gold prices. Demand for gold continues to increase as investors seek safe-haven assets.

US dollar trend

Although expectations for a rate cut by the Federal Reserve have been postponed, the dollar remains under pressure. Slowing U.S. economic growth and increasing uncertainty about monetary policy have had a negative impact on the U.S. dollar, further supporting gold prices.

• Geopolitical risks: The situation in the Middle East is unstable and the trade war continues to heat up. These factors have supported gold prices.
• Economic uncertainty: Global economic growth is slowing down, the market is full of uncertainty about future trends, and investors are more inclined to hold safe-haven assets.

in conclusion

Overall, gold will remain supported amid economic and geopolitical tensions. Investors should pay close attention to global economic and political developments to develop an investment strategy that suits them.