• Gold Price Forecast: Shifting expectation of the Fed terminal rate could cap XAU/USD’s rise – ANZ

Market news

2 August 2023

Gold Price Forecast: Shifting expectation of the Fed terminal rate could cap XAU/USD’s rise – ANZ

The Fed raised rates 25 bps in July and kept the door open for another lift in September, which could cap Gold’s price rise, strategists at ANZ Bank report.

Investment demand remains lackluster

Gold’s macroeconomic backdrop looks a bit uncertain after the US Fed raised rates another 25 bps and left the door open for another rise in September. We expect shifting expectations around its terminal rate could cap the upside in the near term.

Investment demand remains lackluster, as investors wait for the Fed to end its tightening cycle.

 

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