According to experts, the gold price is finally taking advantage of the rising inflation risk and challenging the recent strength of the US dollar. Strategists at ANZ Bank expect the precious metal to continue gaining momentum as low real interest rates persist.
Comments on gold price from ANZ Bank analysts
cryptocoin.com As we have also reported, the rise of gold in recent weeks has attracted the attention of many investors to gold. Investors began to wonder about the next direction under. Analysts of the Australian-based financial institution ANZ Bank were among those who shared their thoughts on this issue. Analysts drew attention to the movements of the US Federal Reserve and interest rates. Analysts of the bank used the following statements:
The Fed’s announcement that asset purchases will begin faltered due to the signals of delay in interest rate hikes. This means that negative interest rates will remain longer than expected, supporting gold investment. We believe that the pace of investment in risky assets will slow down due to the increased risk of ‘stagflation’ and the associated central bank policy changes.
Also, “Although investors have added some long positions in futures, gold ETF holdings show a net loss of investment,” ANZ Bank analysts noted, noting that demand for physical gold has risen encouragingly, with Chinese imports averaging 25 tons, down from less than 10 tons last year. pulling. They point out that the premium for physical gold has been reclaimed in both China and India. At the time of writing, the price of an ounce of gold is changing hands at around $1,860.
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