Gold prices have held above the key $2,000 level since December. Economists at ING analyze the yellow metal’s outlook.
Ongoing geopolitical risk in Ukraine and the Middle East continue to provide support to Gold.
Prices hit an all-time high of $2,077.49 on 27 December 2023. Still, we believe the Federal Reserve's wait-and-see approach will keep the rally in check.
We expect prices to average $2,025 over the first quarter.
See – Gold Price Forecast: XAU/USD to trade higher this year – ING