The recent decline in gold prices (May-June) is likely to be over now that markets are significantly lowered their expectations for further interest rate hikes in the US, says Tu Lan Nguyen, head of commodity research at Commerzbank. Bank see some further upside potential for gold prices towards the end of the year From a technical point of view, exiting the price channel will allow it to move to the 2400 area, which will equal to the channel width.