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
The founder of Cosmos announced plans to fork Cosmos Hub and build a new chain AtomOne, and new ATOM1 tokens will be awarded to ATOM stakers in proportion to their amount.
Microstrategy outperforms Warren Buffet’s Berkshire Hathaway by the largest margin since the dot-com bubbleMichael Saylor’s Microstrategy is outperforming Warren Buffet’s Berkshire Hathaway by the largest margin. The software company has surged by 2,295.74% since August, when it first bought its Bitcoin holdings, while Berkshire Hathaway has surged by 36.02% in the same duration.
Michael Saylor’s Microstrategy is outperforming Warren Buffet’s Berkshire Hathaway by the largest margin. The software company has surged by 2,295.74% since August, when it first bought its Bitcoin holdings, while Berkshire Hathaway has surged by 36.02% in the same duration.
Prominent crypto analyst Burak Kesmeci has tipped Bitcoin (BTC) to hit a price target of $124,000 based on data from the Golden Ratio Multiplier price model.
Silver price (XAG/USD) following its six-day winning streak, trading around $40.98 per troy ounce on Wednesday, the highest since September 2011.
Gold gains momentum above $4,100 after weak US NFP data Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls (NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.
Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls (NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.
Related Instrument
