Fed to Hold Rates Until at Least September, Gold Stuck Neutral for 3-6 Months – SIA’s Cieszynski

According to Colin Cieszynski of SIA Wealth Management, the Federal Reserve is expected to keep interest rates unchanged at least until September amid sharp volatility in energy markets and inflation expectations tied to the Iran conflict. This suggests gold prices could stay range-bound through the fall or into early 2027. Cieszynski observed that gold has already priced in much of the war premium but not all of it, leaving prices elevated amid worries over possible rate hikes. He added that inflation figures may lag, and higher oil costs could push inflation up again, potentially boosting the US dollar and weighing on gold. The strategist remains neutral on gold for the next three to six months as the market consolidates after a strong rally and pullback. He anticipates the Fed will avoid major moves this summer, with the September meeting becoming pivotal, and expects prices to trade between $3,960 and $4,170 per ounce in the near term.