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Dec 10 - 02:55 PM

Gold: Valuation Model Points To Gold At $2100/oz Next Year On These 3 Assumptions - ANZ

By eFXdata  —  Dec 10 - 01:30 PM

ANZ Research discusses its outlook for Gold over the coming year.

"Our gold valuation model suggests gold should trade around USD2,100/oz next year, assuming: 

US inflation rises to 1.7%, 

USD index falls to 90, and

yields on 30y bonds hold steady around 1.6%," ANZ notes. 

"That said, we acknowledge headwinds in the short term. The continued strength in equity markets is likely to see further investor rotation out of gold-backed ETFs and into equities (predominately traditional growth sectors). We have subsequently cut our 0-3m target to USD1900/oz. However, we maintain our 12m target of USD2,100/oz," ANZ adds. 

ANZ Research/Market Commentary


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