ANZ Bank: Raises short-term gold price expectations to $2700, expected to rise to $2900 by the end of next year

On September 16th, Jinshi Data learned that ANZ Bank raised its short-term gold price forecast to $2,700 per ounce and raised its gold price forecast for the end of 2025 to $2,900 per ounce. Soni Kumari, the bank’s commodity strategist, said that as the US inflation rate returns to the Federal Reserve’s target level of 2%, the Fed should start a rate cut cycle this month to support the gold price. However, Kumari said that the strength of the gold pump will depend on the pace of the Fed’s rate cuts in the short term. She added that in the upcoming easing cycle, the actual Intrerest Rate decline and the softening of the US dollar may strengthen their Reverse relationship with gold, while the gold purchases of Central Banks in various countries remain strong.