Dollar now dominating in influence on gold price “Gold prices have disconnected altogether from market pricing for Fed hikes over the past month, and have instead grown their relationship with the USD, pointing to a smaller magnitude of idiosyncratic flows for the yellow metal.”
https://www.fxstreet.com/news/gold-price-forecast-xauusd-under-pressure-despite-rising-recession-odds-tds-202206301324
Gold prices set for worst quarter since early 2021 as dollar dominates
“A combination of rising yields and U.S. dollar have played their part in gold's underperformance, City Index senior market analyst Matt Simpson said, but noted that gold priced in other currencies had not performed too badly.
The U.S. dollar hovered near its recent two-decade peaks, and could record its best quarter in over five years, making greenback-priced gold more expensive for buyers holding other currencies. [USD/]”
[Full article]
https://www.business-standard.com/article/international/gold-prices-set-for-worst-quarter-since-early-2021-as-dollar-dominates-122063000219_1.html
Goldman Sachs raises its gold price forecast
(Kitco News) - “U.S. investment bank Goldman Sachs has recently raised its year-end 2022. The gold price target is now $2500/oz, signaling a strong 2022 after gold prices ended 2021 down approximately 4%. In the report, the bank noted, that the coming year could bring increased concerns of a US recession, which would lead to higher gold prices.”
……
“It also believes that the risk of inflation is likely a strong factor to influence gold prices this year. Goldman has said that inflation expectations may become ‘unhinged’, as inflation has become quite persistent, and has proven not to be transitory as previously expected by the Fed.”
[Full article]
https://www.kitco.com/news/2022-06-29/Goldman-Sachs-raises-its-gold-price-forecast.html