#XAUUSD @ 1,898.03 Gold Price Forecast: could take a breather following its recent rally – Commerzbank
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Gold has continued on the road to recovery this week. However, economists at Commerzbank expect the yellow metal to struggle to extend its gains.
“We believe that the market will initially take a breather until it becomes clearer whose prediction of the future course of US monetary policy is more accurate – the market’s or the Fed’s.”
“The CFTC’s data are likely to confirm once again that short-term-oriented investors in particular are optimistic; by contrast, the stagnating ETF holdings indicate that ETF investors remain sceptical.”
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