Gold price has recovered and is back to $1,950. Economists at Commerzbank analyze the yellow metal’s outlook.
Further upside potential towards the end of the year
The recent weakening of the Gold price is likely to have come to an end, now that the market has significantly scaled back its expectations of further US interest rate hikes.
We even see some further upside potential towards the end of the year. Because by then at the latest it should be clear that the US rate hike cycle is over.
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