ECB rate hike weighs only moderately on Gold price. Strategists at Commerzbank analyze the yellow metal’s outlook. Gold market participants are likely
Gold slid back towards the $1,900 mark this week. This is because the core rate of US consumer prices slowed less sharply than had been hoped. The ECB’s rate hike also weighed briefly on XAU/USD.
However, with economic activity likely to slow in the coming weeks as a result of the monetary tightening that has already taken place, rate hike expectations should gradually fade. Against this background, Gold is likely to recover significantly by the end of the year.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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