Gold Price Forecast: Haven buying remains supportive for XAU/USD – ANZ

Market news

26 February 2024

Gold Price Forecast: Haven buying remains supportive for XAU/USD – ANZ

Last week, Gold (XAU/USD) recorded minor gains and ended above the $2,030 mark. Economists at ANZ Bank analyze the yellow metal’s outlook.

Fed officials warned patience is needed before they start cutting rates

Gold managed to eke out a small weekly gain despite policymakers remaining hawkish.

Federal Reserve officials warned patience is needed before they start cutting rates. This has seen investors dump holdings in the world’s largest Gold-backed exchange-traded fund (ETF). However, haven buying remains supportive due to geopolitical risks in Ukraine and the Middle East.

USD/CAD sticks to intraday gains around 1.3525 amid weaker Crude Oil prices

USD/CAD Price Analysis: Improves to near 1.3520 following February’s high

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