Gold climbed above $1,950 following the Fed meeting. Economists at Commerzbank expect the yellow metal to shed some of its gains in the next few weeks.

Sceptical view of ETF investors

“Short-term investors are pricing in an upcoming end to the rate hike cycle and rate cuts in the near future. We do not rule out a correction in the next few weeks, as this is anything but certain.”

“In this sense, we share the still sceptical view of ETF investors.”