Last week, Gold (XAU/USD) recorded minor gains and ended above the $2,030 mark. Economists at ANZ Bank analyze the yellow metal’s outlook.
Fed officials warned patience is needed before they start cutting rates
Gold managed to eke out a small weekly gain despite policymakers remaining hawkish.
Federal Reserve officials warned patience is needed before they start cutting rates. This has seen investors dump holdings in the world’s largest Gold-backed exchange-traded fund (ETF). However, haven buying remains supportive due to geopolitical risks in Ukraine and the Middle East.
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