After a strong increase in the last few months, The price of gold is approaching its all-time high. However, according to economists at Commerzbank, gold is likely to come under pressure again.
Gold rises again towards the end of the year
“Gold is likely to come under pressure again as expectations of interest rate cuts in the second half of the year should be disappointing. But since the rate cut is likely to be delayed, the fall in prices should be limited.”
“The price of gold is likely to rise again towards the end of the year and next year.”
“We anticipate a price of $2,050 at the end of the year and a further increase to $2,100 by the middle of next year.”