ANZ* sees the recent correction in gold prices as a healthy respite from record gains.
Despite some improvement in trade relations between the US and China, he still believes gold will be in demand.
This is due to ongoing uncertainty in the global economy, including risks of new tariffs, concerns about inflation and slowing economic growth.
The bank reiterates its gold price forecast of $3,600 per ounce by year end and believes the $3,000-$3,200 per ounce range represents an attractive opportunity for investors looking to purchase the precious metal.
*AustraliaAndNew Zealand BankingGroup is an Australian financial group. Together with CommonwealthBank,NationalAustralia BankAnd Westpac make up the big fourbanksAustralia.