Gold price rose by +8% in USD in the first quarter. Economists at Erste Group Research expect the yellow metal to advance nicely in the second quarter on the back of negative real yields.

Real yields will remain in negative territory in Q2 

“Real yields will remain negative in Q2 2023. This favours a rising Gold price.”

“After the very strong increase in Q1, the Gold price should rise only moderately in the second quarter. We expect the price to rise to around $2,080 in Q2.”