The economists of commerzbank they assume that gold will be able to recover ground in the coming months.
The Fed won’t raise rates any more.
Our experts assume that the Fed will not raise rates any further, as it does not want to risk raising interest rates too much in light of the recent tightening of credit conditions. If our experts are correct, the price of gold should rise in the coming months.
We assume that the interest rate hikes recorded so far will take their toll, meaning that the momentum of the US economy is likely to weaken considerably in the second half of the year. Compared to the market, we expect the first interest rate declines to come somewhat later, namely in early 2024. As this should become apparent by the end of the year, the gold price should then also start to establish itself more strongly. sustainable above $2,000 and even reach a new all-time high next year.
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.
