Gold unlikely to fall much lower – Commerzbank

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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.

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• Source: https://www.fxstreet.com/news/gold-unlikely-to-fall-much-lower-commerzbank-202401191509