2024-03-16 02:00:00
© Reuters. Commerzbank: Gold rises to a record level in this case!
Arabictrader.com – In light of the uncertainty regarding continued strength during the coming period, economists at Commerzbank issued their expectations for the performance of the yellow metal, and pointed out that although the US economic data was weak in the recent period, the interest rate cut by… The US Federal Reserve is not very close, according to the expectations of most market participants.
The German bank economists continued that it is not expected that the US interest rate will be cut until June at the earliest, and this will of course affect the metal during trading, but with the date of the Federal Reserve meeting approaching next week, if it is possible to interpret the new Fed expectations. The words of US Federal Reserve Chairman Jerome Powell during the press conference indicate that they increase the chances of a rapid interest rate cut, as gold prices may record new records.
It is noteworthy that the billionaire and president of Orascom (EGX:) Investment Holding Company, Naguib Sawiris, had said during an interview with (Al Arabiya Business) that there are many factors that greatly affect the prices of gold metal in the recent period, including political unrest and wars in Ukraine, Gaza or… The Red Sea, and these factors enhance the rise of gold as a safe haven.
1710558232
#Gold #rises #record #level #case #Arab #Trader
