Gold trades near $1,930 as the weaker US Dollar continues to lend support. Economists at ANZ Bank expect a downside correction in the near term.
“Gold is benefitting from a weakening US Dollar and expectations of the Fed tapering its monetary tightening.”
“Inflation is still well above the Fed’s target range of 2%, and the Dollar’s direction could reverse with any hawkish comments from the central bank.”
“We expect a price correction in the short-term.”
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