VOT Research Desk
Commerzbank analysts believe that even though the price of gold has somewhat recovered from its decline, there is now no chance for further gains in the price of the yellow metal.
In the near future, we do not see any more recovery possibilities. After all, the US labor market (report expected out on Friday) is probably still so tight that an end to the cycle of rate hikes in the US is still up in the air.
Because gold is a non-interest-bearing investment, rising interest rates have a brake impact on its price.
