Gold Price Forecast: XAU/USD to hit $2,050 towards year-end – ANZ

Gold is supported by weaker USD and easing inflationary pressures. Economists at ANZ Bank forecast XAU/USD at $2,050 by the end of the year.

Silver to outperform Gold in a rising price environment

“We believe US recessionary fears, easing inflationary pressure and dovish monetary policy will drive Gold’s performance.”

“The macro backdrop will also remain supportive, so any price dips should be short lived, prompting opportunistic buying. We target gold at $2,050 towards year-end.”

“We expect Silver to outperform Gold in a rising price environment.”