Gold price outlook uncertain as Fed faces economic meltdown and inflation concerns.

BCA Research has reaffirmed its bullish outlook for gold through 2023, stating that the Federal Reserve's ongoing policy mistake will drive inflation higher. The analysts said that gold could see some profit-taking as the central bank instills some renewed faith in the banking system after it raised interest rates by 25 basis points. The firm remains bullish on broad commodities as the Federal Reserve's monetary policy remains a mistake and does not address the underlying issues driving inflation. The Federal Reserve is still stuck between risking an economic meltdown as a result of aggressive rate hikes or runaway inflation due to inaction.