Commerzbank, Germany’s second largest bank, revised down its ounce gold price forecasts for the second half of 2023. The bank reduced its price expectation from $ 2050 to $ 2000. This means that the bank has lowered its forecast for the price of gold by $50 an ounce.
Likewise, Commerzbank revised down its ounce silver price forecasts. It lowered its expectations of $25 and $27 for the end of the third and fourth quarters to 24 and 26 ounces. This shows that the bank has lowered its silver price expectations by 1 dollar per ounce.
The situation developed similarly for Platinum. Commerzbank cut its third and fourth quarter end expectations by 50 ounces each to $1100 and $1050. Also, the bank predicted that by the end of 2024, the price of silver will be 30 ounces and the price of platinum will be 1300 ounces.
These updated forecasts show that Commerzbank is taking a more moderate approach to precious metals prices. The bank predicts lower prices for ounces of gold, ounces of silver and platinum in the future. However, it is important to remember that any financial forecast has uncertainties and prices may differ depending on actual market conditions.
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