Though gold futures have yet to recover from their $26/oz drop earlier this week, prices will continue to trend higher next year, partly from demand by exchange-traded funds, analysts with Commerzbank said Friday. ...
"The reason why the price is not climbing more sharply is that there is currently greater demand for cyclical metals," Commerzbank analysts said in a report, referring to base metals and precious metals with industrial applications, like palladium.
But physical inflows into gold exchange traded funds in recent days have been substantial, Commerzbank analysts said. ... "We are confident that the gold price will continue to climb in 2013."
In a separate report released Thursday, Commerzbank analysts also pointed loose monetary policies being pursued by major central banks and geopolitical risks as additional drivers of gold prices.
"We are confident that the gold price will achieve, and indeed exceed at least temporarily, the $2,000/oz mark next year," they said.
"The reason why the price is not climbing more sharply is that there is currently greater demand for cyclical metals," Commerzbank analysts said in a report, referring to base metals and precious metals with industrial applications, like palladium.
But physical inflows into gold exchange traded funds in recent days have been substantial, Commerzbank analysts said. ... "We are confident that the gold price will continue to climb in 2013."
In a separate report released Thursday, Commerzbank analysts also pointed loose monetary policies being pursued by major central banks and geopolitical risks as additional drivers of gold prices.
"We are confident that the gold price will achieve, and indeed exceed at least temporarily, the $2,000/oz mark next year," they said.
More information can be found online at http://www.goldbullionadvisors.com
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