Gold Price Forecast: Further XAU/USD recovery likely to be delayed – Commerzbank
Source Fxstreet
Gold (XAU/USD) has put the previous week's setback behind it and established itself above $2,000. Economists at Commerzbank analyze the yellow metal’s outlook.
XAU/USD year-end forecast lowered by $50 to $2,100
The fact that the US Federal Reserve will probably not cut interest rates until later in the year was quickly shrugged off: after all, postponed is not cancelled.
Nevertheless, our new forecast, according to which the US economy will avoid a recession and the Fed will cut interest rates later and less sharply, is likely to have consequences for the Gold price.
The rise in the Gold price that we expect will be delayed and less pronounced than previously thought. We are therefore lowering our XAU/USD forecast for the end of the year by $50 to $2,100.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Gold (XAU/USD) attracts buyers for the second consecutive day and surges past the $4,100 mark to hit a nearly two-week high during the Asian session on Wednesday.
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