Mitsubishi UFJ: If the Fed holds rates with a hawkish tilt, US Treasury yields
and the dollar should be supported. COMMERZBANK: Cut year-end gold and silver
forecasts to $4,500/oz and $67/oz, citing persistent inflation that keeps the
Fed biased to tightening. TD Securities: A unanimous decision would be
surprising and would imply Waller has consolidated internal consensus, risking a
sharp dollar sell-off. SIA Wealth Management: No major Fed adjustment expected
before September; expect gold to trade rangebound into autumn and, in an extreme
scenario, into early 2027. Saxo Bank: A Fed rate hike would likely lift the
forward rates curve further unless markets interpret it as a defensive move.
Goldman Sachs: Even if the Fed holds rates all year, downside pressure on the
dollar is limited; EUR/USD remains structurally pressured. ING: If US yields
remain subdued, gold should find support around current levels, though any
hawkish Fed surprise could limit near-term upside. DBS Group: Even minor tweaks
to the statement or press conference wording could materially drive short-end
rate volatility. HSBC: Unless the Fed delivers an unexpected hike, this week's
decision is unlikely to provide a fresh catalyst for dollar gains. Sumitomo
Mitsui: The Fed decision and Waller's press conference could push USD/JPY toward
the 164 level.
