Gold Price Forecast: XAU/USD may shine again, seen at $1,850 by end-2023 – Commerzbank Gold XAUUSD Banks Fed InterestRate
sts at Commerzbank expect the yellow metal to fall to $1,750 earlier next year before trending back higher towards $1,850 by end-2023.“We expect the Gold price to initially fall back towards $1,750 until it is clear that the Fed's cycle of interest rate hikes is over.”
“After what is expected to be the last interest rate hike in March, a period of unchanged rates is likely to follow before the Fed cuts the key rate again toward the end of 2023 in view of a weak economy and lower inflation. The Fed, on the other hand, is not yet forecasting this. As soon as thealso adopts this view, Gold should rise again. This should be the case in the second half of next year.”
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