Gold Price Forecast: Even Fed hawkish comments do not seem to be affecting XAU/USD – Commerzbank

Source Fxstreet
Mar 28, 2024 10:14

Gold is holding up well near the $2,200 mark. Economists at Commerzbank analyze the yellow metal’s outlook.

The market seems to be underestimating the risk that rate cuts will come later and be less substantial

Even hawkish comments from the Federal Reserve do not seem to be affecting the precious metal. Only Wednesday, Fed Governor Christopher Waller stressed that recent economic data would warrant a delay or a reduced amount of interest rate cuts. The market therefore seems to be underestimating the risk that US rate cuts will come later and be less substantial. 

Although the median of the top Fed officials' rate projections was unchanged at the last meeting, the distribution showed that only a few of them would have had to upgrade their rate expectations to push the median higher as well.

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Natural Gas as a longer-term investment might not workNatural Gas price (XNG/USD) has given traders a nice run, rallying 40% since the end of March. This movement partially came on the back of Israel and its continuing attacks on Gaza. With pressure building from world leaders, calling out Israel to at leas
Source  Fxstreet
Natural Gas price (XNG/USD) has given traders a nice run, rallying 40% since the end of March. This movement partially came on the back of Israel and its continuing attacks on Gaza. With pressure building from world leaders, calling out Israel to at leas
placeholder
Silver Price Analysis: Silver threatens to reverse trendSilver (XAG/USD) price is threatening to reverse the short-term downtrend it has been in since April 12 and begin a new uptrend.
Source  Fxstreet
Silver (XAG/USD) price is threatening to reverse the short-term downtrend it has been in since April 12 and begin a new uptrend.
placeholder
India Gold price today: Gold rises, according to MCX dataGold prices rose in India on Monday, according to data from India's Multi Commodity Exchange (MCX).
Source  Fxstreet
Gold prices rose in India on Monday, according to data from India's Multi Commodity Exchange (MCX).
goTop
quote