Gold Price Forecast: Fed’s shift in tone should see investors continue to build exposure to XAU/USD – ANZ

Gold consolidated its gains following the dovish commentary emanating from Wednesday’s FOMC meeting. Economists at ANZ Bank analyze the yellow metal’s outlook.

Fed’s pivot to attract Gold buyers

The Fed Dot Plot suggested it now expects to cut rates in 2024.

The pivot to easing monetary policy has been one of the last issues that has been holding back investors from the Gold market. This apparent shift in tone from the Fed should see investors flock into the precious metal.

See – Gold Price Forecast: XAU/USD set to hit fresh highs in 2024 – MUFG