2023-07-09 16:01:00
© Archyde.com. Commerzbank gold price forecasts in 2024
Arabictrader.com – In conjunction with the stability of the highest level of $1900 an ounce, economists at Commerzbank analyzed their expectations for metal prices, especially with the market’s expectations that the high US interest rates may take some time.
Experts at the bank indicated that it is likely that gold prices will continue to decline in the short term, but gold may regain its strength as soon as signs emerge regarding the US interest peaking more clearly, and in this case the gold metal may regain the level of $ 2000 an ounce by the end of the year.
It should be noted that in the quarterly global outlook report issued by the Singaporean UOB Group, analysts expected gold prices to gain strong upward momentum and surpass the key level of $2,000 an ounce during the second half of 2023.
Experts at the bank pointed out that despite the expected decline in gold prices in the near term, we maintain our positive expectations for gold prices in the coming period, and US interest rates are expected to rise in the coming months, as the Federal Reserve reaches the end of the interest rate hike cycle.
And the bank’s economists continued that our view still indicates that the American dollar will also rise, albeit with a slight slowdown at the end of this year, and gold remains an important factor for diversifying the risks of investment portfolios, and it is expected that emerging markets and Asian central banks will continue to increase their reserves of gold. , specifically China.
1688923085
#Commerzbank #gold #price #forecasts #Arab #trader
