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ANZ on gold and inflation expectations

ANZ comments on XAU:

  • Gold has found some support despite a stronger dollar as consumer inflation expectations hit a new high.
  • This has boosted investor demand for gold as they sort the hedges against rising prices.
  • Fears of weaker economic growth amid rising omicron cases have also supported demand for safe-haven assets.
  • This precedes the Federal Reserve’s meeting this week, where they are expected to step up their cut and signal rate hikes for 2022.

Gold is relatively stable in the session so far, but gives back just a bit as I update:


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