Gold rebounds after Fed rate rise as banks back long-term demand outlook

Gold prices have rebounded after the US Federal Reserve's interest rate increase, following a sharp decline earlier in the day. This rise in gold prices is likely due to investors seeking safe-haven assets, as the interest rate hike may have a negative impact on the overall economy. Analysts and investment banks are maintaining a positive long-term outlook for gold, citing structural challenges facing the US economy, which could support gold prices in the future.

Why it matters

The US Federal Reserve's interest rate increase did not change the long-term demand outlook for gold. Analysts and investment banks are maintaining a positive outlook, which could lift gold prices.

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