2023-07-17 15:21:00
© Archyde.com. The ANZ Group reveals its forecast for gold price movements until 2024
Arabictrader.com – ANZ Banking Group experts explained their analysis of prices and future movements; In this regard, economists reported that tightness in the US and strong economic data is likely to contribute to the continuation of the monetary tightening cycle, which involves raising interest rates.
This may push real interest rates to high levels in the short term. Which will be reflected negatively during that period.
However, analysts remained positive for gold prices in the medium term, as continued low inflation will, of course, result in the US Federal Reserve temporarily halting the interest rate cycle at some point this year.
It is also taken into account that the US yield usually begins to decline at this point, which reduces the opportunity cost of investing in gold; Where economists are likely to lead the temporary cessation of the Federal Reserve to raise interest rates compared to its counterparts from other central banks more stringent to the weakness of the US during the second half of this year.
Moreover, the risk of a recession in the United States is not completely excluded, in which case gold may enjoy strong support from its role as a safe haven during times of economic turmoil and volatility until 2024.
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