- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD to stay in demand as a safe-haven amid escalating geopolitical tensions – Commerzbank
Gold Price Forecast: XAU/USD to stay in demand as a safe-haven amid escalating geopolitical tensions – Commerzbank
The gold price surged to $1,930 as trading began this morning. It dropped back later to dip below the $1,900 mark again, however. As strategists at Commerzbank note, escalation of the Russia-Ukraine conflict generates high demand for the yellow metal.
Russian President Putin put deterrence forces at the highest threat level
“The US and the EU have imposed further – and this time tougher – sanctions on Russia. Not only have a number of commercial banks been excluded from the SWIFT payment system, but sanctions have now also been imposed directly on the Russian central bank.”
“Russian President Putin has threatened the West with weapons of deterrence and put the country’s nuclear forces on high alert. And last but not least, the fighting in Ukraine persists. All of this is cause for concern and is prompting price fluctuations on the markets accordingly.”
“Gold is in demand as a safe haven in this environment, as is also evident from the ETF inflows. Besides ETF investors, we believe that speculative financial investors amplified the upswing in the gold price.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
