Gold Price Forecast: XAU/USD could take a breather following its recent rally – Commerzbank
Gold has continued on the road to recovery this week. However, economists at Commerzbank expect the yellow metal to struggle to extend its gains.
Short-term-oriented investors are optimistic
“We believe that the market will initially take a breather until it becomes clearer whose prediction of the future course of US monetary policy is more accurate – the market’s or the Fed’s.”
“The CFTC’s data are likely to confirm once again that short-term-oriented investors in particular are optimistic; by contrast, the stagnating ETF holdings indicate that ETF investors remain sceptical.”
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FXStreet Insights Team
FXStreet
The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.
