ANZ expects gold’s rally to pause

Gold is trading close to the historic high, which it reached in the first half of March - on the 11th quotes rose to $2189.10 per troy ounce on the London Metal Exchange, according to data from Investing.com. Last week they showed a slight correction to $2159.80, helped by the strengthening of the dollar, which jumped to the highest value in two weeks ahead of the Fed meeting. But on Monday they resumed their rise, ending trading at $2165.55 (+0.27%).

ANZ analysts expect the precious metal quotations to fall to $2100 in the near future, but are set for their subsequent growth, Investing.com reports. As the portal writes, if prices break through the support level of $2150, a correction may follow. By the end of the year, according to ANZ forecast, they will grow to $2300 - contributes to this probability of reducing the U.S. key rate, which is at the highest levels in history, as well as the risk of weakening the economy.