Gold Price Forecast: XAU/USD rally seems overstretched over the near term – HSBC Gold XAUUSD Fed Bonds Banks
“Evidence of easing US price pressures has helped buoy risk sentiment and undermine the USD, supporting Gold over the last several months. That said, it is possible that Gold may need to consolidate, or even dip, over the near term, after the recent spate of gains.”
“High Gold prices may weigh on underlying demand for jewellery, or even bars and coins, and moderating inflation may also cut into coin, bar and other Gold demand, while strong central bank demand will likely ease somewhat in 2023 but remain historically high, supported by geopolitical risks and portfolio diversification needs.”
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