ANZ sees gold at $5,800: rate cuts, global debt to fuel demand

Gold has failed to defend the $5,000-per-ounce level as easing geopolitical tensions and a stronger dollar weighed on sentiments.  Yet, the stabilisation in prices around the $5,000 mark is not expected to be permanent, according to analysts at ANZ bank. The bank has scaled up its projections for gold prices for the second quarter, according to a Kitco report.  ANZ commodity analysts have significantly raised their gold price forecast for the second quarter, now projecting it to reach $5,800 an ounce.  ANZ significantly raises gold price forecast This represents a sharp increase from their previous target of $5,400 an ounce, as stated in their most recent note on the commodity. “Although recent volatility has raised questions about whether gold prices…