GOLD: It seems that there is a limit to the potential gains.
Updated
The recent banking problems have caused the Fed to adopt a more cautious approach, resulting in a decrease in US yields and an increase in the value of gold. However, ANZ Bank economists do not anticipate a further increase in the price of gold at this time.
According to the statement, the Gold price is not expected to increase significantly in the short term due to the federal fund rate being at 5.5%. Although Gold is backed by concerns of a US recession, reduced inflationary pressure, and a more lenient monetary policy, its potential for growth is currently constrained due to the diminishing banking risks and future rate hikes by the Federal Reserve.
The prediction for the growth of the yellow metal is not very high.
According to the statement, the Gold price is not expected to increase significantly in the short term due to the federal fund rate being at 5.5%. Although Gold is backed by concerns of a US recession, reduced inflationary pressure, and a more lenient monetary policy, its potential for growth is currently constrained due to the diminishing banking risks and future rate hikes by the Federal Reserve.
The prediction for the growth of the yellow metal is not very high.
Trade active
standard predictionNote
Yup. Let's gooo
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.