- The Federal Reserve's shift to a more neutral stance on interest rates will continue to support gold prices, but one international bank is warning investors that the precious metal could see some weakness in the near term.
While the German bank is bullish on gold, Nguyen said that investors will probably have to wait until at least the second quarter of next year before gold sees a sustained break above its all-time highs. Despite Powell's comments pushing back on the idea of rate cuts this year, the market expects that interest rates will end the year nearly 100 basis points lower. Markets are pricing in the first rate cut by September.
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