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    Gold Price Forecast: XAU/USD to see a renewed rise – Commerzbank

    Source Fxstreet
    Jan 30, 2024 14:27

    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.
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    Source  Fxstreet
    Gold price (XAU/USD) edges higher during the Asian session on Wednesday and for now, seems to have stalled the previous day's modest pullback from the $2,040-$2,042 resistance.
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    Source  Fxstreet
    Natural Gas (XNG/USD) is holding ground above $1.70 after the steep decline seen on Friday. Traders appear to be defining a higher floor for prices after  reaching a multi-year low near $1.60 a week ago. With demand heating up for contracts and
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    Gold Price Forecast: Further XAU/USD recovery likely to be delayed – CommerzbankGold (XAU/USD) has put the previous week's setback behind it and established itself above $2,000.
    Source  Fxstreet
    Gold (XAU/USD) has put the previous week's setback behind it and established itself above $2,000.
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