Gold Price Forecast: Easing monetary policy will be crucial to push XAU/USD higher – ANZ

Higher than expected US inflation number weighed on Gold. Economists at ANZ Bank analyze the yellow metal’s outlook.

Market pricing for June cut to declined from 93% to 77%

Gold prices came under pressure after the US inflation print came in higher than expected. This led market pricing for a June cut to decline from 93% to 77%. The FOMC has said it needs more evidence to see inflation heading towards the 2% target before it starts cutting interest rates.

Easing monetary policy will be crucial to push Gold prices higher.