Gold unlikely to fall much lower – Commerzbank
Source Fxstreet
Strategists at Commerzbank discuss poor sentiment in the metals markets.
No positive impetus for metal prices
The market balance figures from the International Copper Study Group are likely to confirm that the supply situation on the copper market improved last year. They therefore do not promise a boost for the struggling metal markets.
The Oil market is also sufficiently supplied. However, Oil prices remain well supported by the tensions in the Middle East.
The Gold price is also unlikely to fall much lower, as US key interest rates will be reduced later than some had hoped, but they will fall.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The U.S. government refuses to bail out Bitcoin, and with Fed rate cuts nowhere in sight, a continued downward trend to test for a bottom is likely after a brief rebound.During the mid-da
Precious metals' volatility mirrored Bitcoin's downturn as it targets lower price points.
Bitcoin's plunge to $70K triggers a $775M leverage washout, driving a capital rotation into quantum-secure infrastructure project BMIC as investors seek uncorrelated alpha.
Ethereum Price Forecast: ETH faces heavy distribution as price slips below average cost basis of investorsEthereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Ethereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Gold returns to the $5,000 mark as Bitcoin prices weaken to hit new lows; what is the future outlook?During the Asian session on Wednesday (February 4), gold ( XAUUSD) prices continued to
Related Instrument
