Price bounces may be traps as Fed rate hikes could drive gold down to $3,200/oz – StoneX’s Pavilonis

(Kitco News) – The trajectory for gold is tilted firmly to the downside, and traders who buy the near-term bounce off of current levels could be washed out as aggressive Fed rate hikes ultimately push the precious metal down to $3,200 per ounce, according to Daniel Pavilonis, senior commodities broker at StoneX Group.