Gold Price Forecast: XAU/USD unlikely to make any major leaps in the short term – Commerzbank
Source Fxstreet
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.
Recommended Articles
TradingKey - Global oil prices extended declines Tuesday, erasing last week's gains. WTI and Brent crude futures fell further, pressured by renewed Iraqi supply and Saudi price cuts, despite looming F
Michael Saylor and Strategy are heavily investing in Bitcoin, adding 10,624 more BTC to their already significant holdings, despite a tough year for their stock.
As institutional inflows into Bitcoin ETFs accelerate, active on-chain addresses are sliding, signaling a shift where investors prefer Wall Street wrappers over self-custody.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $58.65 during the Asian trading hours on Tuesday. The WTI price edges lower as Iraq restores production at one of its oilfields.
Gold Price Forecast: XAU/USD edges lower below $4,200 amid worries about hawkish Fed rate cutGold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Gold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
