The price of Gold remains close to $2,200. Commerzbank economists analyze the prospects for the yellow metal.
The market appears to underestimate the risk of rate cuts coming later and being less substantial
Even the Federal Reserve's hawkish comments don't seem to affect the precious metal. On Wednesday, Fed Governor Christopher Waller stressed that the latest economic data would justify a delay or reduction of interest rate cuts. Therefore, The market appears to be underestimating the risk of US rate cuts coming later and being less substantial..
Although the median rate forecasts of top Fed officials remained unchanged at the last meeting, the distribution showed that only a few of them would have had to improve their rate expectations to also raise the median.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
