ANZ research note yesterday, analysts see strong demand for gold:
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“Assuming the current pace of buying continues, we upgrade our
demand estimates to 1,050t from 750t for 2023 and 800t for
2024” - “The recent rally has been underpinned by a strong surge in investor demand, as the spectre of lower rates has been joined by strong safe-haven buying amid elevated geopolitical risks and an uncertain economic backdrop,”
ANZ stay positive for the long term in gold, forecasting the price averaging more than USD2000 in 2024:
This article was written by Eamonn Sheridan at www.forexlive.com.
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