Gold Price Forecast: XAU/USD still has game even as fed talks hawkishly – TDS Gold XAUUSD Commodities Fed Banks
Analysts at TD Securities believe that gold price still has some room for the upside, despite the hawkish Fed outlook for 2022.“Gold posted a mixed and a very volatile performance in 2021; it moved up to a high of just under $1,960/oz in the early days of 2021, then to a low of $1,677/oz in late-summer, followed by a rally towards nearly $1,875/oz in mid-November, before falling to $1,750s/oz by mid-December.
“However, while the US central bank may be on track to raise rates, it will still provide an expansionary monetary policy. And, central banks will continue to buy gold, while investors are looking to diversify given a higher perceived risk of equity market, suggesting that gold speculators' relative short positioning may still drive the yellow metal into the $1,850s/oz in the early months of 2022.
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