fxs_header_sponsor_anchor

News

Gold Price Forecast: XAU/USD under pressure as markets expect further rates hikes by year-end – Natixis

Gold Price Forecast: XAU/USD under pressure as markets expect further rates hikes by year-end – Natixis

During the months of April and May, the price of Gold breached the $2,000 mark and was only within a few Dollars of the record high. Analysts at Natixis discuss XAU/USD outlook for the coming months.

Gold prices to remain in the lower bound area of $1,900 in 2024

In the near term, Gold is expected to remain under pressure as the markets expect further rate hikes (albeit small ones) by the end of the year. 

Into 2024, we expect Gold prices to remain in the lower bound area of $1,900, averaging $1,920 for the year as a whole. On the one hand, rate cuts will be positive for Gold as it would reduce the opportunity cost of holding the metal. On the other hand, a rebound in the economy coupled with lower inflation figures would put cap on a price rally.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.