Gold price has stabilised above the $1,900 mark. Economists at Commerzbank analyze the precious metal outlook.
Gold price to be back at $2,000 by year’s end
Market participants appear to have come to terms with the fact that the interest rate turnaround will take some time yet.
The price will probably continue treading water in the short term but is likely to regain strength when the peak of the (US) rate hike cycle comes more clearly into view.
We expect the Gold price to be back at $2,000 by year’s end.
Source: https://www.fxstreet.com/news/gold-price-forecast-xau-usd-to-tread-water-until-a-clear-end-is-in-sight-to-us-rate-hike-cycle-commerzbank-202307071458