- Gold Price Forecast: Sovereign investors still favour XAU/USD as an inflation hedge – ANZ
Market news
11 July 2023
Gold Price Forecast: Sovereign investors still favour XAU/USD as an inflation hedge – ANZ
On Monday, Gold was little changed at $1,925. Economists at ANZ Bank analyze XAU/USD outlook.
Traders remain wary ahead of the CPI data
The weaker USD helped reverse earlier losses in the gold market. However, traders remain wary ahead of the CPI data. Even if inflation falls, the market is still expecting the US Federal Reserve to raise rates later this month.
The market is finding support from sovereign investors. A survey from Invesco indicated they still favour gold as an inflation hedge.
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page