ANZ (this in short), firs what they see as draw back components:
- The backdrop for gold is deteriorating as central banks turn into extra hawkish.
On the flip facet:
- elevated inflation and geopolitical threat are partially offsetting the affect of tightening financial insurance policies
- Retail investments and bodily offtake have been resilient
Projection for the weeks forward:
- We imagine gold will commerce at $1,800/oz in direction of the top of Q1 2022