Gold is going to $2,100 even as the Fed raises interest rates - Lombard Odier LombardOdier gold Fedraisesinterestrates
- Stubborn inflation pressures could keep the Federal Reserve raising interest rates through the summer but shouldn't stop gold from reaching new all-time highs, according to one private Swiss bank.
"Persistent price pressures and slowing economies worldwide have taken gold prices, adjusted for inflation, to levels in line with past periods of market stress in the early 1980s, the European sovereign debt crisis, and Covid," said Monier in the report.
Markets are also starting to push back the timing of a potential rate cut to after summer. In his report Monier said that although headline inflation has dropped sharply from last year's peak, core inflation, which strips out volatile food and energy prices, has remained consistently elevated.
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