ANZ Forecast: Gold Price to Increase in Second Half of 2020 as Federal Reserve Pauses

Rate Hikes

The gold price is expected to increase in the second half of 2020, according to the ANZ forecast. This is due to the Federal Reserve’s decision to pause rate hikes, which has created a more favorable environment for gold prices.

The Federal Reserve’s decision to pause rate hikes is a result of the economic uncertainty caused by the coronavirus pandemic. The Federal Reserve is trying to keep the economy stable by keeping interest rates low. Low interest rates make it cheaper for investors to borrow money and buy gold, which increases demand and drives up the price.

The ANZ forecast predicts that gold prices will continue to rise in the second half of 2020. This is due to a combination of factors, including the Federal Reserve’s decision to pause rate hikes, increased demand from investors, and a weaker US dollar.

The weaker US dollar is another factor that is driving up gold prices. A weaker US dollar makes gold more attractive to investors, as it is seen as a safe haven asset. This increased demand for gold drives up the price.

Gold prices have been on the rise since the start of 2020, and this trend is expected to continue in the second half of the year. This is good news for investors who are looking to diversify their portfolios with gold. The ANZ forecast predicts that gold prices will continue to rise in the second half of 2020, making it an attractive investment option.

Overall, the ANZ forecast predicts that gold prices will increase in the second half of 2020 due to the Federal Reserve’s decision to pause rate hikes, increased demand from investors, and a weaker US dollar. This is good news for investors who are looking to diversify their portfolios with gold.

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• Source: Plato Data Intelligence: PlatoAiStream