Gold Retreats from Record Highs as Prices Remain Elevated

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Gold prices are trading lower after hitting nine consecutive intraday record highs. Bank of America Securities Head of Commodities and Derivatives Research Francisco Blanch discusses the factors behind gold's run-up and its recent decline.

) is trading to the downside Wednesday morning after the precious metal hit nine consecutive intraday record highs. As the March CPI print shows that prices remain elevated above Wall Street expectations, Bank of America Securities Head of Commodities and Derivatives Research Francisco Blanch joins The Morning Brief to discuss gold’s retreat from record highs.

Because of Bank of America's expectations of three rate cuts, Blanch says he thinks gold prices will continue to move higher. If the Fed does not initiate a cutting cycle,"I think it will be pretty bad for the gold market," Blanch explains.) will perform well, topping out at around 95 dollars per barrel in the summer months. Gasoline and diesel prices may move up with oil as well.

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