Gold Price Forecast: XAU/USD to see a renewed rise – Commerzbank
Source Fxstreet
Gold (XAU/USD) has been trading above the $2,000 mark since mid-December. Strategists at Commerzbank analyze the yellow metal’s outlook.
Significant interest rate cuts over the course of the year
Beyond this short-term perspective, the direction of US monetary policy will be decisive for the further development of the Gold price. Accordingly, the wording of the communiqué and the subsequent press conference by Fed Chairman Jerome Powell following the Fed meeting on Wednesday is likely to be important.
We expect significant interest rate cuts over the course of the year and therefore a renewed rise in the Gold price.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
West Texas Intermediate (WTI) Oil price gains ground and is trading around $65.70 per barrel during the European hours on Thursday.
Silver Price Forecast: XAG/USD rises to near $78.00 on safe-haven demandSilver price (XAG/USD) extends its gains for the second successive session, trading around $78.00 per troy ounce during the Asian hours on Thursday. The precious metal Silver receives support from rising safe-haven demand amid persistent tensions between the United States (US) and Iran.
Silver price (XAG/USD) extends its gains for the second successive session, trading around $78.00 per troy ounce during the Asian hours on Thursday. The precious metal Silver receives support from rising safe-haven demand amid persistent tensions between the United States (US) and Iran.
Gold price (XAU/USD) holds positive ground near $4,985 during the early Asian session on Thursday. The precious metal recovers amid shifts in geopolitical sentiment, boosting safe-haven demand.
The USD/JPY pair trades 0.27% higher to near 153.70 during the European trading session on Wednesday.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP face downside risk as bears regain control Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.
Related Instrument
