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    Gold Price Forecast: XAU/USD unlikely to make any major leaps in the short term – Commerzbank

    Source Fxstreet
    January 19, 2024 12:44

    Gold has been under pressure as the market mulled the Fed’s interest rate path. Strategists at Commerzbank analyze the yellow metal’s outlook.

    Weak demand from automotive industry and downturn in Gold are weighing on Palladium

    Prices on the precious metal exchanges are under pressure: Palladium is the biggest loser, dropping around 15% since the beginning of the year. Weak demand from the automotive industry and the recent downturn in the Gold market are weighing on the price. The latter is mainly due to disappointed hopes of quick interest rate cuts.

    We believe that the first interest rate cut in the US is not expected until May, so the Gold price is unlikely to make any major leaps in the short term.

     

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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    Source  Fxstreet
    Silver’s falls for the fourth straight day, remaining below the $23.00 figure, as US Treasury bond yields advance, courtesy of strong economic data from the United States, preventing the Federal Reserve (Fed) from beginning to ease policy soon.
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    Source  Fxstreet
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    Source  Fxstreet
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