Gold has reacted positively to the latest US tariffs, Commerzbank’s commodity analyst Barbara Lambrecht notes.
US economic indicators can strengthen hopes of more interest rate cuts
“The price reached a new record high. In addition, the price difference between Gold on the Comex and the spot price in London has widened again, which can be explained by concerns about the US tariffs that will come into force next week as these could also affect Gold imports from Canada.”
“However, this also shows that the Gold rally is not quite over yet. We consider Gold to be well supported for the time being, especially as next week’s potentially disappointing US economic indicators could strengthen hopes of more interest rate cuts by the Fed.”
- Gold clings to gains above $4,550 level; not out of the woods yet amid bullish USD
- Gold Price Forecast: At make or break around $4,550 while Fed’s policy in focus
- Gold seems vulnerable below $4,600; looks to Fed policy update for fresh impetus
- GBP/USD weakens as Fed and BoE caution, geopolitics bolster US Dollar
- Gold hits four-week low as firmer US Dollar, Oil-driven inflation weigh
Free Forex Signals 
Leave a comment