According to Commerzbank, gold prices will rise with higher inflation expectations. Commerzbank commodity analyst Daniel Briesemann stated in his latest daily commodity report that gold is buoyed by rising inflation expectations. cryptocoin.com We now give the details.
Gold prices
Commerzbank commodity analyst Daniel Briesemann said: “Market-based inflation expectations in the US temporarily reached almost 2.7%, a nine-year high, on Friday. For the first time in seven years. “Markets, in other words, are pricing in increasingly higher inflation, and many market participants openly believe that the current level of high inflation is no longer merely temporary.”
Looking ahead, the analyst says: “Gold should take advantage of this in its role as a store of value. Gold also benefited from breaking the technically important 100 and 200-day moving averages on Friday, which likely triggered the technical follow-up. According to CFTC statistics, ETF investors still do not seem to trust gold, and speculative financial investors similarly are not significantly investing in the recently rising gold prices.”
As for some other precious metals, Briesemann says: “This also explains why silver outperformed gold significantly over the period under review, reducing the gold/silver ratio. Speculative financial investors have also become more optimistic about platinum. The platinum price has risen of late but has not gained a foothold against gold. On the contrary, the price gap between the two precious metals has widened again.”
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