Strategists at ANZ Financial institution reiterate their optimistic stance on gold over the following three months. Report low US real-yield, delay in tapering, costly fairness valuation and prospects of weaker greenback nonetheless recommend XAU/USD to grind increased in the direction of $1,900/oz.
See – Gold Worth Forecast: XAU/USD to increase the bounce in the direction of $1916/32 on a transfer past $1835 – SocGen
US actual yield
“Report low yields are once more handing over favour of non-yielding gold funding.”
“Weak spot ought to proceed to be a key assist for investor demand.”
“Bodily demand in India and China is about to enhance forward of festive season.”
“Waning probability of financial tightening seems supportive within the near-term.”