What to watch for gold to come bouncing back

A snippet from a CBA note on XAU:

• If global growth concerns continue to push up the USD, like we have seen this week, we could see some near-term headwinds for the precious metal
• Importantly though, if U.S. growth concerns result in significant policy adjustments by the Fed to help the economy, such as negative interest rates or even monetary financing, we could see gold track even higher and move back above $2,000/oz.