BMO cuts gold price forecast as Fed's hawkish shift weighs on precious metals

Gold prices are trading near year-to-date lows as the Federal Reserve’s more hawkish stance continues to pressure the metal. A second bank has lowered its year-end gold price forecast, reinforcing bearish sentiment and suggesting further downside risk if rates remain elevated.

Analysis

Gold prices are trading near year-to-date lows as the Federal Reserve’s more hawkish stance continues to pressure the metal. A second bank has lowered its year-end gold price forecast, reinforcing bearish sentiment and suggesting further downside risk if rates remain elevated.