Gold Price Forecast: Fed policy will remain key to the outlook for XAU/USD in the months ahead – ING

Gold has been trading in a narrow range awaiting clues on the prospects for US interest rates. Economists at ING analyze the yellow metal’s outlook 

Gold awaits clues on Fed outlook

Gold has been trading above $2,000 so far this week, with the market awaiting clues on the outlook for US interest rates.

The Federal Reserve is set to release minutes of its recent meeting midweek. We believe Fed policy will remain key to the outlook for Gold prices in the months ahead.

Higher borrowing costs are typically negative for Gold.