Gold Price Forecast: XAU/USD to remain elevated amid geopolitical concerns – ANZ

Gold is benefitting from safe-haven investment flows. As economists at ANZ Bank note, the Ukrainian conflict could enhance the safe-haven appeal of gold investments.

Impact of a stronger dollar to be muted

“Heightened geopolitical and economic risk are keeping the backdrop increasingly supportive in the short-term.”

“The impact of Fed rate hikes and a stronger dollar will be limited in the short-term.”

“Higher gold prices could weaken physical offtake in the Asian market.”

See – Gold Price Forecast: XAU/USD seen at $2,000 by year-end as its safe-haven appeal is erratic – ABN Amro