The post Gold price weaker after Fed meeting – Commerzbank appeared on BitcoinEthereumNews.com. The Gold price came under pressure with some delay after the Fed meeting. A brief rise to a new record high of more than $3,700 per troy ounce was followed by a decline of around $70 by Thursday morning, Commerzbank’s commodity analyst Carsten Fritsch notes. The price of Gold might jump even higher “The price of Gold closely followed the development of the US dollar, which initially lost value shortly after the interest rate decision but then appreciated significantly. As expected, the US Federal Reserve lowered its key interest rate by 25 basis points on Wednesday. Only Fed Governor Stephen Miran, who was appointed by US President Trump on a short-term basis, voted for a 50 basis point rate cut.” “The published interest rate projections of the FOMC members suggest a median of two further interest rate cuts by the end of the year. However, the FOMC is divided on this issue, with only a narrow majority favoring this scenario. A considerable number of FOMC members see no need for further interest rate cuts this year. For next year, the median projection is for only one interest rate cut. Only two FOMC members expect the key interest rate at the end of 2026 to be slightly lower than the current market expectations, while most see it as being significantly higher.” “However, this could change quickly when Jerome Powell’s term as Fed Chair ends in May 2026 and a successor chosen by Trump takes office. Yesterday’s voting behavior by Trump confidant Miran, who was probably also the one in the FOMC who preferred interest rate cuts of 125 basis points by the end of this year, gives us a taste of what might come. Such aggressive interest rate cuts, despite the continuing threat of inflation, would catapult the price of Gold… The post Gold price weaker after Fed meeting – Commerzbank appeared on BitcoinEthereumNews.com. The Gold price came under pressure with some delay after the Fed meeting. A brief rise to a new record high of more than $3,700 per troy ounce was followed by a decline of around $70 by Thursday morning, Commerzbank’s commodity analyst Carsten Fritsch notes. The price of Gold might jump even higher “The price of Gold closely followed the development of the US dollar, which initially lost value shortly after the interest rate decision but then appreciated significantly. As expected, the US Federal Reserve lowered its key interest rate by 25 basis points on Wednesday. Only Fed Governor Stephen Miran, who was appointed by US President Trump on a short-term basis, voted for a 50 basis point rate cut.” “The published interest rate projections of the FOMC members suggest a median of two further interest rate cuts by the end of the year. However, the FOMC is divided on this issue, with only a narrow majority favoring this scenario. A considerable number of FOMC members see no need for further interest rate cuts this year. For next year, the median projection is for only one interest rate cut. Only two FOMC members expect the key interest rate at the end of 2026 to be slightly lower than the current market expectations, while most see it as being significantly higher.” “However, this could change quickly when Jerome Powell’s term as Fed Chair ends in May 2026 and a successor chosen by Trump takes office. Yesterday’s voting behavior by Trump confidant Miran, who was probably also the one in the FOMC who preferred interest rate cuts of 125 basis points by the end of this year, gives us a taste of what might come. Such aggressive interest rate cuts, despite the continuing threat of inflation, would catapult the price of Gold…