Gold Price Forecast: XAU/USD could suffer a correction in the next few weeks – Commerzbank

FXStreet Insights Team FXStreet

Gold climbed above $1,950 following the Fed meeting. Economists at Commerzbank expect the yellow metal to shed some of its gains in the next few weeks.

Sceptical view of ETF investors

“Short-term investors are pricing in an upcoming end to the rate hike cycle and rate cuts in the near future. We do not rule out a correction in the next few weeks, as this is anything but certain.”

“In this sense, we share the still sceptical view of ETF investors.”

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FXStreet Insights Team

FXStreet

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