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27 Oct 2022
Gold Price Forecast: Haven flows not enough to reverse bearish trend anytime soon – ANZ
Gold price is stalling a two-day upswing towards $1,700. Strategists at ANZ Bank expect the yellow metal to remain under downside pressure.
XAU/USD to remain under pressure
“The hawkish tone of the central banks is keeping US real yields and the US dollar on a strong footing. While recession fears grow due to rising rates and sticky inflation, we should see some haven flows but not enough to reverse the bearish trend anytime soon.”
“We expect gold to remain under pressure.”