Latest News

ANZ increases gold price forecast by ANZ to $3,800 due to solid demand

ANZ Group, an Australian bank, raised its gold price forecast for the year to $3,800 on Wednesday. It expects that prices will peak at $4,000 per ounce by June next year, due to strong demand from investors.

Gold prices reached a record high of $3,673.95 Tuesday. They have gained 38% this year due to a weak dollar, central bank purchases, dovish monetary policies and increased global uncertainty.

ANZ analysts stated in a report that "prospects of continued accommodative monetary policies, increasing geopolitical challenges, ongoing macroeconomic issues, and concerns about the Fed's independent will strengthen the investment case" for gold.

The central bank's gold purchases in 2025 are expected to be between 900 and 950 tons, which translates to 485 to 500 tons of purchases in the second half of the calendar year.

China's central banks added gold to their reserves in August. This is the 10th consecutive month that they have purchased bullion.

The U.S. Fed will probably maintain its current easing policy until March 2026, due to rising risks on the labour market. This will put downward pressure on U.S. Treasury rates, which usually increases the appeal of Gold," ANZ stated.

The Australian lender raised its silver price target for the year to $44.7 an ounce. It cited support from the gold bull run, and strong ETF inflows.

On Monday, spot silver rates reached a record high of $41.65/oz.

(source: Reuters)