Gold prices have been scaling new highs in March. Economists at ANZ Bank analyze the yellow metal’s outlook.
A retracement looks likely in the short term
While we continue to hold our long-term positive view, a retracement looks likely in the short term. A price pull-back is an opportunity to build long positions.
We expect Gold to trade towards $2,300 by the end of 2024.
See – Gold Price Forecast: Push back in rate cut expectations from March to June may cap XAU/USD rally – ANZ
Source: https://www.fxstreet.com/news/gold-price-forecast-xau-usd-to-trade-towards-2-300-by-the-end-of-2024-anz-202403281429