Gold Price Forecast: XAU/USD to suffer a phase of weakness during the summer months – Commerzbank

After the strong rise over the last few months, the Gold price is close to its all-time high. But Gold is likely to come under pressure yet again, economists at Commerzbank report.

Gold to climb again towards the end of the year 

“Gold is likely to come under pressure yet once again, as the expectations of interest rate cuts in the second half of the year should be disappointing. But since the rate cuts are probably only postponed, the price decline should be limited.”

“Towards the end of the year and next year, the Gold price is likely to rise again.”

“For the end of the year, we foresee a price of $2,050 and a further rise to $2,100 by the middle of next year.”