Commerzbank has raised its gold price forecast to USD 5k/oz by the end of the year, and to USD 5.2k/oz by the end of next year
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Commerzbank has raised its gold price forecast to USD 5k/oz by the end of the year, and to USD 5.2k/oz by the end of next year
Norges Bank says policy cannot see through supply shock
Fitch affirms Israel at 'A'; outlook negative
On the Newsquawk feed at , 20 minutes before this page.
- Says in main scenario, in which the war will end in May, sees the price of Brent falling to USD 90/bbl by the end of Q2.
- Lowers Silver forecast to USD 80/oz for the middle of the year and reach USD 90/oz by end-2026.
- Palladium to trade at USD 1600/oz by mid-year and USD 1,800 by year-end.
- Raised Aluminium PT to USD 3,400 (prev. 3,300).
Context
Commerzbank's significant revision of its gold price forecast to USD 5k/oz by year-end suggests a bullish outlook driven by current market dynamics, potentially influenced by geopolitical factors. This aggressive forecast could signal increasing demand for safe-haven assets like gold amidst market uncertainty, which may impact not only gold prices but also related currency pairings and commodities overall.
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