Gold Price Forecast: XAU/USD struggles amid rising yields and Dollar’s rally – ANZ

Gold prices fell to the $1,900 level as the US yields rose to a fresh multi-year high. Strategists at ANZ Bank analyze the yellow metal’s outlook. 

A rally in the US Dollar kept the market sentiment bleak

Investors are adjusting to the anticipation that the Federal Reserve is unlikely to ease monetary policy next year. Rising yields are weighing on fund flows to Gold exchange traded funds (ETF) too. 

A renewed strength in the US Dollar is another headwind, reducing appetite for Gold investment.