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Gold to rebound slightly next year as Fed tightening cycle ends

From channelnewsasia.com

Gold prices will average $1,712.50 an ounce next year, rising from current levels, as an end to U.S. interest rate rises is expected to revive investor interest in bullion, a Reuters poll showed on Wednesday. Gold has tumbled from above $2,000 an ounce in March to around $1,650 as the U.S. Federal Reserve and other central banks raised interest rates rapidly to tackle inflation. Higher rates pressured gold by lifting returns on other assets such as government bonds and the dollar that compete with gold for investment. "We will get a change of direction when the market gets convinced that the Fed will stop ... (full story)

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  • Category: Fundamental Analysis