• Gold Price Forecast: XAU/USD setbacks are certainly possible in the coming weeks – Commerzbank

Market news

21 July 2023

Gold Price Forecast: XAU/USD setbacks are certainly possible in the coming weeks – Commerzbank

Gold price is profiting from speculation about an end to the Fed rate hikes. Economists at Commerzbank analyze XAU/USD outlook.

Fed will hike interest rates for the last time by 25 bps next week

The recently weaker economic data and declining inflation suggest that the Fed will hike interest rates for the last time (for now) by 25 basis points next week. 

That said, Fed Chair Powell will presumably leave the door open for another rate hike, meaning that the relevant data could well spark repeated speculation about another rate increase in the coming weeks. The Gold price will not be immune to setbacks, in other words.

 

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.