- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAUUSD to continue the recovery movement – Commerzbank
Gold Price Forecast: XAUUSD to continue the recovery movement – Commerzbank
Gold continues recovery movement. At the same time, silver is up too. Economists at Commerzbank note that the selling pressure on the yellow metal seems abated.
Silver to profit from the expectedly high demand from the photovoltaic industry
“Gold is finding support from the weaker US dollar. Furthermore, gold is apparently finding favour with ETF investors again.”
“According to the CFTC’s statistics, speculative financial investors had withdrawn further in the week to 17 May, reducing their net long positions to their lowest level since last September. In our view, however, this should now have adjusted the market, meaning that the selling pressure generated by this group of investors should have abated significantly.”
“In the first four months of the year, China tripled its investments in solar power year-on-year to the equivalent of around $4.3 billion, according to the country’s National Energy Administration. Silver should profit from the expectedly high demand from the photovoltaic industry amid the decarbonisation drive and should increase in price accordingly in the long term.”
© 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
