Economists at the ANZ Financial Group presented their expectations regarding future gold price movements, as experts suggested that the recent record highs recorded by the gold metal are not due to the decline in the strength of the US dollar.
In other words, analysts said that the pace of the record rise of the gold metal is much greater than the pace of the decline of the US dollar, which means that the selling pressures that the green currency witnessed recently did not fuel the strong rises of the gold metal recent, as geopolitical tensions contributed to strengthening the strength of gold in the recent period side by side. With other factors.
In this regard, Australian New Zealand Banking Group experts agreed with market expectations about the start of US interest rate cuts at the next June meeting, with the pace of cuts returning to normal from 150 basis points to 70-80 basis points in early January.
In terms of trading today, Monday, the prices of spot contracts for gold metal witnessed clear stability at the same closing level of the last session of $2,155.31 per ounce.
