Gold Price Forecast: Softer-than-expected US inflation print required to sustain XAU/USD rally – ANZ

Market news

12 March 2024

Gold Price Forecast: Softer-than-expected US inflation print required to sustain XAU/USD rally – ANZ

Gold took a breather after prices hit a fresh high last week. On Tuesday, the US Consumer Price Index (CPI) will dictate the fate of the yellow metal, economists at ANZ Bank report.

Tactical positions increased last week

Investors will be closely watching clues from the US inflation print today. Higher-than-expected inflation could trigger profit booking after a sharp price rally.

Tactical positions increased last week, but ETF outflows continue.

See – Gold Price Forecast: Setback potential for XAU/USD on upside inflation surprise – Commerzbank

Gold Price Forecast: XAU/USD unlikely to sustain gains on another strong US inflation reading – Commerzbank

BoJ: A March hike is under consideration, and Friday’s wage data will be the decisive input – ING

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