Economists at Citibank expect gold prices to soften mildly from March’s all-time highs. They forecast XAUUSD at $1,910 this year.

Macro and micro factors tilt positive for the yellow metal this year

“We see gold prices moderating from fresh all-time highs hit in March but holding a high(er) range for the balance of 2022 as financial markets grapple with surging headline inflation, geopolitical uncertainty, and recession tail risks.”

“2022E forecast is $1,910/oz, and 2023E forecast is $1,725/oz.” 

“Much hinges on whether the Fed can dampen inflation without significant growth pains. On balance, macro and micro factors tilt positive for the yellow metal this year.”

This article was originally published by Fxstreet.com.Read the original article here.

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