Gold Price Surges After Fed Meeting on Rate Hike Expectations

The gold price rose after the Federal Reserve's recent meeting, briefly exceeding $4,100 per troy ounce.

Commerzbank's Carsten Fritsch notes that markets have pared back expectations of further rate hikes, but Fed funds futures still imply additional tightening due to persistent inflation.

The World Gold Council data shows weak jewelry demand and positive, but slower ETF inflows. Commerzbank expects central bank purchases to remain strong, but below last year's level.