ANZ Bank clarifies its expectations for the US Federal Reserve’s decisions and their impact on gold

Arabictrader.com – In a note published by the New Zealand Investment Bank (ANZ) on Tuesday, the bank’s economists stated that they expect, in light of the recent economic data, that the monetary policy of the US Federal Reserve will shift towards greater monetary easing, which the bank indicated will have a positive impact. on .

The most prominent contents of the ANZ Bank memorandum were the following:

• It reached a record high, rising to a high of $2,100, as investors continue to increasingly flock to safe-haven assets.
• The uncertain economic backdrop in light of recent negative data, coupled with geopolitical risks, has led to investor demand for gold rising significantly. This comes at a time when monetary policy is likely to shift to an accommodative bias, which represents a major support for non-yielding assets. like gold.
• Current data and indicators show strong buying operations for gold in the physical market, with inflows to the SPDR Gold Share investment fund backed by gold metal rising, for the first time in nine consecutive trading sessions.

The expectations of ANZ analysts come at a time when spot gold contracts are trading at an increase of more than 0.4%, as bullion contracts recorded 1,122.5 per ounce, which is the highest level recorded by spot gold since December 4 of last year, which was then the highest levels of gold prices ever. .

See the original article