- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD to surpass its record high from August 2020 by end-2024 – Commerzbank
Gold Price Forecast: XAU/USD to surpass its record high from August 2020 by end-2024 – Commerzbank
Gold price is back above $2,000, but why? Strategists at Commerzbank analyze the yellow metal’s outlook.
Any upside potential for Gold is probably more or less exhausted for the time being
The falling interest rates and weaker US Dollar we envisage as a result point to a rising Gold price, which is why we anticipate a further increase to $2,100 by the end of next year. This would also see Gold surpass its record high from August 2020.
That said, any upside potential for the Gold price is probably more or less exhausted for the time being. This is because the upswing since early October was probably facilitated by the covering of speculative short positions, a process that should have been completed by now. For the Gold price to gain any further, rate cut speculation would need to intensify, which would require weaker US economic data or corresponding comments by Fed officials.
© 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
