Gold Price Forecast: XAU/USD to advance nicely fueled by heightened geopolitical risks and higher inflation โ ANZ
Gold has rallied to a 19-month high as the US move to ban Russian oil imports fuelled concerns over inflation and economic growth. Strategists at ANZ Bank expect the yellow metal to continue benefitting from the safe-haven demand.
Russian sanctions are intensifying the stagflation risk
โInvestors are shifting towards gold as the Ukraine-Russia war worsens.โ
โWith Russia being a major commodity producer, sanctions are intensifying the stagflation risk.โ
โWe believe heightened geopolitical risks and higher inflation will support gold prices.โ
Gold has rallied to a 19-month high as the US move to ban Russian oil imports fuelled concerns over inflation and economic growth. Strategists at ANZ Bank expect the yellow metal to continue benefitting from the safe-haven demand.
Russian sanctions are intensifying the stagflation risk
โInvestors are shifting towards gold as the Ukraine-Russia war worsens.โ
โWith Russia being a major commodity producer, sanctions are intensifying the stagflation risk.โ
โWe believe heightened geopolitical risks and higher inflation will support gold prices.โ
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