The price of gold fluctuates noticeably after central bank meetings. Economists at Commerzbank analyze XAU/USD view.
Gold will only start to recover after it becomes clear that key US rates have peaked
Gold market participants are disappointed that the rate hike cycle may not be over yet: the price of gold, meanwhile, was trading more than $100 lower than at the start of May, hitting a three-month low.
We expected a fix, but we believe it should be largely complete by now. However, prices are likely to start recovering once it becomes clear that key US rates have peaked.