Gold Price Forecast: XAU/USD to shed some gains if the higher Oil price sparks inflation fears – Commerzbank Gold Oil Inflation InterestRate Banks
Gold price jumped above $2,010, reaching the highest level since March of last year. However, economists at Commerzbank believe that the yellow metal could correct lower if higher Oil price sparks inflation fears.
“Doesn’t higher inflation point to higher interest rates, which should weigh on the Gold price? This was probably not the market’s first thought, however. Instead, its first reflex was presumably to switch to ‘crisis’ mode and focus on possible economic risks.”will shed at least some of the gains it chalked up yesterday if the higher Oil price sparks inflation fears and thus rate hike speculation.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD bears struggle to keep the reins ahead of US Nonfarm PayrollsGold Price (XAU/USD) consolidates intraday losses around $1,963 as US Dollar retreats from a daily high, despite sour sentiment and firmer yields, as
Read more »
Gold Price Forecast: XAU/USD recovers early lost ground, climbs back above $1,970 levelGold price reverses an intraday fall to the $1,950 zone, or a four-day low touched earlier this Monday and builds on its intraday ascent through the f
Read more »
Gold Price Forecast: Climbs to one-week highs, eyes $2,000Gold price is up by almost 1% on Monday, after rising more than $40 from the daily low. XAU/USD bottomed on Asian hours at $1,949 and then reversed it
Read more »
Gold Price Forecast: XAU/USD bulls in town on lower Fed betsGold price rallied on Monday and took out the $2,000 mark with a slump in the US Dollar on the back of bond yields falling on expectations a surprise
Read more »
Gold Price Forecast: Sustained break above $1,990 to keep XAU/USD buyers motivatedJust when it looked like Gold price is initiating a fresh downtrend on Monday, Gold price bulls jumped back on the bids. Acceptance above $1,990 is cr
Read more »
Gold Price Forecast: XAU/USD pullback targets $1,968 amid US Dollar rebound, sluggish yieldsGold price (XAU/USD) prints mild losses around $1,980 as it consolidates the week-start losses heading into Tuesday’s European session. In doing so, t
Read more »