- Analytics
- News and Tools
- Market News
- Gold Price Forecast: Interest rate cuts to boost XAU/USD – ING
Gold Price Forecast: Interest rate cuts to boost XAU/USD – ING
Gold shines again with an end to the Fed’s tightening cycle in sight, economists at ING report.
XAU/USD to average $1,900 in the third quarter and $1,950 in the fourth quarter
We believe that for Gold, the Fed policy is still key over the medium term. We believe the downside remains limited for Gold as the Fed is close to the end of its monetary tightening cycle, with the expected hike at the Fed's meeting next week already priced in for bullion.
We see prices moving higher over the second half of next year, given that the Fed should start to pause its rate hiking cycle, while geopolitical instability will also provide headwinds for Gold prices looking forward.
We forecast prices to average $1,900 in the third quarter and $1,950 in the fourth quarter.
We expect prices to move higher again in the first quarter of 2024 to average $2,000 with the assumption around this that the Fed starts cutting rates in the first quarter of next year.
© 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
