Gold Price Forecast: Rising yields are a headwind for XAU/USD – ANZ

Notícias do Mercado

18 agosto 2023

Gold Price Forecast: Rising yields are a headwind for XAU/USD – ANZ

Another leg higher in US Treasury yields and renewed USD strength are weighing on Gold prices. Economists at ANZ Bank analyze the yellow metal’s outlook.

Renewed strength in the USD is another headwind

A rise in US Treasury bond yields and the appreciation of the USD are exerting downward pressure on Gold.

The market is pricing another 25 bps hike by the Fed. If that materialises, real yields will rise further with moderating inflation, because higher yields increase the opportunity cost for holding Gold.

Brent will not break out of the yearly range of $72 to $88 just yet – Rabobank

USD/RUB extends losses, holds ground above 93.00 psychological level

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