ANZ Bank's economists predict that Gold will be backed by a weaker USD and decreasing inflationary pressures and forecast XAU/USD to reach $2,050 by year-end. According to their analysis, Gold's performance will be driven by US recessionary concerns, a reduction in inflationary pressure, and accommodative monetary policy. The supportive macro environment suggests that any temporary price declines will likely prompt opportunistic buying. Furthermore, they anticipate that Silver will outperform Gold in a rising price environment.
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