price climbed to $1,930 at the start of the week, thereby reaching its highest level since the end of April 2022. Nonetheless, economists at Commerzbank doubt that the currency increase is sustainable.”There is still a considerable discrepancy between the interest rate path anticipated by the market and that indicated by the Fed. If the market changes its view and moves more into line with the Fed, the Gold price risks facing serious setback potential.
“Since the start of the year, holdings in the gold ETFs tracked by Bloomberg declined by 3.4 tons, which is amazing in view of the steep price rise. This also makes us sceptical about the sustainability of the current upswing. After all, it is primarily the result of the weak USD and declining interest rate expectations.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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