Gold Price Forecast: XAU/USD appears to be consolidating and building a base for further gains – ANZ

Gold remains capped below the $2,000 barrier after surging above this level on Friday amid current Israel-Hamas conflict concerns. Strategists at ANZ Bank analyze the yellow metal’s outlook.

Israel’s limited ground offensive in Gaza saw haven demand soften

Israel’s limited ground offensive in Gaza saw haven demand soften.

Gold had pushed above $2,000 on Friday, but it was not able to hold those gains on Monday.

Nevertheless, Gold does appear to be consolidating and building a base for further gains.

See – Gold Price Forecast: XAU/USD to move sustainably into $2,100 territory – TDS