"I think a year-end price target for us is $2,750. And about a 12 to 15-month price target is $3,000," Blue Line Futures chief market strategist Phil Streible says about gold prices (GC=F). "And it's always been that pace of the interest rate cuts that happened. You don't want to see a big interest rate cut if you are a gold investor because of the fact that it gets you closer to that terminal rate faster. You want to see a long, drawn-out process."

Streible joins Market Domination to talk about how the Federal Reserve's interest rate cuts could influence commodity prices, from crude oil (CL=F, BZ=F) and gasoline (RB=F) to precious metals like gold and silver (SI=F).

"So I think gold futures are pricing in 50 basis points. That's why we're at this elevated level. If they only cut 25 basis points, I think we could easily see a pullback down to about $2,550. Kind of your line in the sand on the gold market is down at a $2,520 down to $2,500. If we close below there, it could send up some warning signs that, you know, things are going to be a little bit shaky here and there."

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This post was written by Luke Carberry Mogan.