By NewsBlogger Gold prices have been steadily rising due to factors such as Federal Reserve rate cuts, the US-China trade war, and global economic uncertainties. Analysts predict further increases in the near future.
At a glance
- Gold prices rising due to Federal Reserve rate cuts and US-China trade war
- Fed’s rate cuts identified as long-term drivers for Gold reaching six-year high
- ANZ Bank predicts Gold prices could reach $1,700 per ounce by the end of 2019
- Gold is currently trading near $2,200
- Global economic uncertainties driving Gold prices to new highs
The details
Gold prices have been on the rise, with ANZ Bank strategists attributing the increase to the Federal Reserve’s rate cuts and the ongoing US-China trade war.
The timing and pace of the Fed’s rate cuts have been identified as long-term drivers for Gold, helping prices reach a six-year high.
ANZ Bank strategists predict Gold prices could potentially reach $1,700 per ounce by the end of 2019.
Currently trading near $2,200
Gold has been closely analyzed by economists at Commerzbank, who study the outlook for the precious metal.
March has seen gold prices consistently hit new highs driven by global economic uncertainties.
ANZ Bank economists are also examining the Gold outlook, focusing on the potential impact of a delay in rate cut expectations from March to June, which could potentially limit the XAU/USD rally.
The combination of the Fed’s rate cuts, the US-China trade war, and global economic uncertainties has significantly pushed Gold prices to new heights.
Economists and strategists are closely monitoring market dynamics and predicting further upward momentum for Gold prices in the near future.
Article X-ray
Sources
Here are all the sources used to create this article:
Facts attribution
This section links each of the article’s facts back to its original source.
If you suspect false information in the article, you can use this section to investigate where it came from.
| fxstreet.com |
|---|
| – ANZ Bank strategists believe the timing and pace of the Fed’s rate cuts are long-term drivers for Gold – Gold prices have been supported by the Fed’s rate cuts – The Fed’s rate cuts have helped Gold prices reach a six-year high – The US-China trade war has also contributed to the rise in Gold prices – Gold prices are expected to remain strong due to global economic uncertainties – ANZ Bank strategists predict Gold prices to reach $1,700 per ounce by the end of 2019 |
| fxstreet.com |
|---|
| – Gold is currently trading near the $2,200 mark – Economists at Commerzbank are analyzing the outlook for gold |
| fxstreet.com |
|---|
| – Gold prices have been reaching new highs in March – Economists at ANZ Bank are analyzing the outlook for gold – There may be a push back in rate cut expectations from March to June which could cap the XAU/USD rally |
