- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD has limited further upside potential – Commerzbank
Gold Price Forecast: XAU/USD has limited further upside potential – Commerzbank
The price of Gold has reached a new record high following the Fed's meeting perceived as dovish. Economists at Scotiabank analyze the yellow metal’s outlook.
Gold rise remains a mystery
Due to the lack of a convincing explanation for the rise in the value of Gold, we are sceptical that the precious metal will be able to maintain its gains in the short term, let alone extend them further.
However, it is unlikely that prices will fall back to the levels seen at the end of February as the Fed is expected to cut interest rates from June, which should support Gold.
Nevertheless, further upside potential is likely to be limited in the medium to long term. This is because a pronounced cycle of interest rate cuts in the US is unlikely, given the persistent risks of inflation.
We have recently ‘only’ raised our Gold price forecast for the end of this year and the end of next year from $2,100 to $2,200.
© 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
