Commerzbank expects gold prices this year and next

Commerzbank expects gold prices this year and next
Commerzbank expects gold prices this year and next

gold prices

Experts at Commerzbank said in a research note that after the strong rally over the past few months and the gold price approaching an all-time high, gold is likely to come under pressure again as expectations of interest rate cuts in the second half of the year are supposed to disappoint. for hopes.

Experts at the German Bank indicated that, in light of expectations of postponing interest rate cuts by the US Federal Reserve, the price drop should be limited, but towards the end of the year and next year, it is likely that the price of gold will rise again.

At the same time, Commerzbank economists explained that for the end of the year, the price of an ounce of gold is expected to reach 2050 US dollars, and then rise again to 2100 dollars by the middle of next year.

It should be noted that in light of expectations that the US Federal Reserve will stop raising interest rates and increasing investor demand for gold globally, economists at ANZ Bank expected that the yellow metal would remain strong and rise during the coming period, especially with renewed concerns about pressure from US banks, slowing economic growth and increasing Geopolitical tensions, and all of this supports the high demand for investment in gold.

Experts at the Asian Multinational Bank pointed out that the growing expectations that the US Federal Reserve will start cutting interest rates is one of the factors that support gold, especially since there are signs of building long positions in gold futures contracts and ETFs, and this will be a strong support for gold prices during trading. .

Read also:

Commerzbank expects the price of gold to stabilize at this level!