ANZ are not expecting gold to be much changed by the end of Q1

ANZ (this in brief), firs what they see as downside factors:

• The backdrop for gold is deteriorating as central banks become more hawkish.

On the flip side:

• elevated inflation and geopolitical risk are partially offsetting the impact of tightening monetary policies
• Retail investments and physical offtake have been resilient

Projection for the weeks ahead:

• We believe gold will trade at $1,800/oz towards the end of Q1 2022