Gold Price Forecast: XAU/USD could fall further in the short term – Commerzbank

NEW YORK (November 10) Gold market has run out of steam. Strategists at Commerzbank analyze the yellow metal’s outlook.

Mid-term outlook is positive for Gold

The latest speeches given by Fed officials including Chairman Jerome Powell have dampened any hopes of rate cuts in the near future.

If US inflation figures were to surprise to the upside, the Gold price could fall further in the short term. In principle, however, we are convinced that the US rate cycle has peaked and that the mid-term outlook is positive for Gold.

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