Gold prices slid over 1% to more than a two-week low on Thursday, as the dollar rallied after robust U.S. economic data strengthened the case for an interest rate hike by the Federal Reserve in March.
Gold prices will drift lower in 2022 and 2023 as central banks raise interest rates, lifting bond yields and making non-yielding bullion less attractive, a Reuters poll showed.
Menke added that he did not see a broad-based move into gold from safe-haven seekers but rather some selective buying which should remain the case as long as the economic backdrop does not sharply deteriorate.
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