FXStreet reports that strategists at ANZ Bank expect gold price (XAU/USD) to reach $1850 but to suffer a reverse back lower in the next year and beyond.
“Supportive factors for gold are waning with Fed tapering drawing closer. That said, risk around slower growth against higher inflation still sees a sustained strategic allocation to gold amid prevailing low rates backdrop.”
“We expect gold prices to reach $1850/oz before retreating through next year and beyond.”