ANZ (this in brief), firs what they see as downside factors:
- The backdrop for gold is deteriorating as central banks become more hawkish.
On the flip side:
- elevated inflation and geopolitical risk are partially offsetting the impact of tightening monetary policies
- Retail investments and physical offtake have been resilient
Projection for the weeks ahead:
- We believe gold will trade at $1,800/oz towards the end of Q1 2022
gold bars
