- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD to rise if US core inflation falls below 5% – Commerzbank
Gold Price Forecast: XAU/USD to rise if US core inflation falls below 5% – Commerzbank
Gold price up slightly in wake of US labour market data. Attention will now be focused on the US consumer price data that are due to be published on Wednesday. Economists at Commerzbank analyze how XAU/USD could react to the US CPI report.
Focus now on inflation figures
The headline rate of inflation is likely to fall significantly to 3.1% on account of a base effect. The last time it was any lower was in March 2021. Though the core inflation rate, which is more relevant to monetary policy, is set to drop to 5.0%, this would still be more than two times above the target. This also underlines the need for further monetary policy tightening.
The core rate would presumably need to fall below 5% for the Gold price to gain in response to the data.
See – US CPI Banks Preview: Inflation to step meaningfully lower in June
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
