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2023-09-21

ANZ: Gold Price will be around $2,050 per ounce in Q4 2023

$Gold - main 2312(GCmain)$ The Fed announced on Thursday that it would not raise interest rates, but the market still expects another rate hike in Q4 2023.Gold closed down 0.2% on Thursday and was now at $1,947.9.Analysts at ANZ said they remain optimistic about gold's mid- to long-term prospects. The bank currently predicts that the average price of gold will be around $2,050 per ounce before Q4 2023, and it is expected to reach a new high before the end of Q1 2024, with the average price being approximately $2,100 per ounce.Daniel Hynes, senior commodities strategist and lead author of the latest report, said in the report: "We believe that the Fed's interest rate hike cycle is nearing the end, the dollar is still in a structural downward trend
ANZ: Gold Price will be around $2,050 per ounce in Q4 2023

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