#XAUUSD @ 1,873.70 Gold Price Forecast: supported by negative real yields – Erste Group
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XAU/USD increased by +9.9% in the fourth quarter. Negative real yields favour a rising Gold price, economists at Erste Group Research report.
“Real yields remain in negative territory in 1Q 2023 despite Fed rate hikes. This is a factor that favours a rising Gold price. However, real yields will rise due to the continuation of the Fed’s rate hike cycle and the expected decline in the US inflation rate during 1Q but will remain in negative territory. As long as that is the case, Gold has very strong support.”
“The expected slowdown in global economic growth and declining corporate earnings growth rates will boost safe-haven flows in gold.”
“We expect a slight price increase to around $1,890 in 1Q 2023.”
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