- Analytics
- News and Tools
- Market News
- Gold is having its best year in 14 years – Commerzbank
Gold is having its best year in 14 years – Commerzbank
The Gold price continues to rush from record high to record high. The last one so far was reached this morning at $2,640 per troy ounce. This is $110 more than the all-time high recorded just five weeks ago, which held until mid-September, Commerzbank’s commodity analyst Carsten Fritsch notes.
China optimism exaggerated
“Gold benefits from its role as a store of value in times of inflation and uncertainty, and as an interest-free investment in times of falling interest rates. The strength of the Gold price is by no means limited to the US dollar. In numerous other currencies, such as the euro, British pound, Swiss franc, Chinese renminbi and Indian rupee, the Gold price is also at a record level.”
“We are raising our Gold price forecast for the end of the year to $2,600 per troy ounce (previously $2,500). The Gold price could then come under pressure. We can still imagine a further price increase in the short term. However, this is not likely to be permanent.”
“We therefore confirm our price forecast of $2,600 for mid-2025. Since the current Fed projections do not show any interest rate hikes for 2026, we are also raising our price forecast for the end of 2025 to $2,600 per troy ounce (previously $2,550).”
© 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
