Gold prices surpassed the critical level of $1,800 due to weakness in the dollar. However, gold is struggling to recover further. USD weakness should continue to be a key boost to investor demand, according to ANZ Bank economists. In this case, it could trigger a possible increase in prices. Here are the gold comments of ANZ Bank economists…
Gold comments from economists: Therefore, gold prices may increase more!
Inflation and weak USD support central bank gold purchases. Moreover, USD weakness should remain a key pillar for investor demand, according to ANZ Bank economists. Let’s take a closer look at the predictions of ANZ Bank economists:
Central banks turn to gold. Increasing uncertainty about monetary policies, inflation, and rising stock market volatility should support demand for safe-haven gold. The US bond yield and the possibility of a weaker US dollar also strengthen our belief that the gold price will trade at higher levels. Central banks have increased their gold purchases in recent months, making up for some physical demand losses in the second quarter of 2021. We see that the central bank’s gold purchases have increased to 520 tons this year.
Cryptocoin. com, as we previously reported, for more gold claims “Famous Analysts Warn: Gold Price May Drop To These Levels!” You can review our article.
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