Gold Price Forecast: XAU/USD recovery since the beginning of the week to be unsustainable – Commerzbank Gold XAUUSD Fed InterestRate Banks
to peak at 5.5% – this is higher than the rate priced in for the middle of this year in the Fed Funds Futures and higher than the Fed officials predicted in their latest projections.”
“Unlike the market, which expects the US key rate to be approximately 4.40% at the end of this year, we believe that US rate cuts are unlikely this year. If we turn out to be right, this would mean a further rise in interest rate expectations and thus another downward correction for XAU/USD. We do not, therefore, believe the recovery that has been seen since the beginning of the week to be sustainable.
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