Commerzbank: Expects the Fed to cut rates more than the market anticipates.

Gold prices continued their upward trend, supported by expectations of further interest rate cuts by the Federal Reserve next year and safe-haven demand driven by ongoing geopolitical uncertainty. Analysts at Commerzbank stated, "Although there are signs that the Fed may pause rate cuts at its next meeting in January, the door remains open for further cuts. We expect the rate cuts to be larger than the market currently anticipates, especially after Powell's successor officially takes office as Fed Chair in May next year." (Jinshi)