Gold Price Forecast: XAU/USD will trend higher as 2024 unfolds – TDS

Market news

5 February 2024

Gold Price Forecast: XAU/USD will trend higher as 2024 unfolds – TDS

Gold managed to end the week higher after erasing a majority of weekly gains on Friday. Strategists at TD Securities analyze the yellow metal’s outlook.

Rates will likely drop before the inflation target is reached

The US central bank's next move is a cut and now the markets will need to decide when that starts.

Since rates will likely drop before the inflation target is reached and considering robust central bank purchases, new demand and relatively short positioning prompts us to say length and prices will increase as 2024 unfolds.

Eurozone HCOB Composite PMI meets forecasts (47.9) in January

Germany HCOB Composite PMI below forecasts (47.1) in January: Actual (47)

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