Gold price outlook uncertain as market factors clash.

ABN AMRO bank predicts that gold's rally is at risk of running out of steam, with prices likely to fall back to the $1,900-$1,950 range before resuming its trend higher. The bank believes that the Federal Reserve won't deliver rate cuts as early as markets expect, and the US dollar is likely to rally as markets re-price Fed's rate cuts for a later period. However, ABN AMRO's updated gold forecast sees prices at $2,000 in 2023 and $2,200 in 2024.