central bank looks to raise interest rates by another 50 basis points at the next two meetings, Federal Reserve Chair Jerome Powell pushed back on market expectations of a bigger 75-basis point move.
Other central banks will have to step up with their tightening measure,” said Philip Streible, chief market strategist at Blue Line Futures.
At the same time, four analysts, or 35%, were bearish on gold in the near term, and two analysts, or 12%, were neutral on prices.
Another 245, or 23%, said lower, while 162 voters, or 16%, were neutral in the near term.
dollar should top out now as the Fed remains the most aggressive central bank in the global economy.
Newsome said that he does see gold prices going higher in the near term as it looks technically oversold.
Sean Lusk, co-director of commercial hedging with Walsh Trading, said that he doesn’t see the U.S.