Gold prices have held above the key $2,000 level since December. Economists at ING analyze the yellow metal’s outlook.
Gold still shines on safe-haven demand
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
Source: https://www.fxstreet.com/news/gold-price-forecast-xau-usd-to-average-2-025-over-the-first-quarter-ing-202403011455