Market news
23.09.2022, 09:16

Gold Price Forecast: XAU/USD to have a hard time making any lasting gains – Commerzbank

Gold is trading close to its yearly low. Economists at Commerzbank expect XAU/USD to remain under pressure. If at all, a brief countermovement might be seen on the gold market.

Gold has little to offer as a non-interest-bearing investment

“Amid rapidly rising interest rates, gold has little to offer as a non-interest-bearing investment, especially as the strong US dollar is weighing additionally on its price. This is why many ETF investors are continuing to withdraw their holdings.”

“Next week could see a small countermovement to the upside. However, no lasting turnaround can be expected until an end to the rate hikes is in sight.”

 

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location