Gold rallied amid concerns over a global economic slowdown. However, economists at ANZ bank expect the yellow metal to give up gains if the bank turmoil eases.

Bullish view on Gold for the long-term

“While the ongoing banking sector issues remain an upside risk, we see Gold prices giving up gains if the crisis eases.”

“We hold our bullish view on Gold for the long-term as the Fed pauses its interest rate hikes and the USD continues to grind lower through the rest of the year.”