Gold Price Forecast: XAU/USD will probably only climb further if ETF demand picks up again – Commerzbank
|As far as the Gold market is concerned, Tuesday will see the World Gold Council (WGC) publish the supply and demand figures for the fourth quarter and for 2022 as a whole. Interest among ETF investors is likely to continue to dictate the direction of prices, in the view of economists at Commerzbank.
Physical demand in Asia to provide little impetus on balance
“As the brisk buying interest in China was countered by rather muted demand in India – the second-largest consumer country – recently, physical demand in Asia will probably provide little impetus on balance.”
“Interest among ETF investors is likely to continue to dictate the direction of prices: if the first tentative indications of recent days turn out to confirm a trend reversal, this should lend a tailwind to the Gold price. Increased interest could be generated in particular if the central banks at their meetings were to hint at an end to the rate hike cycle.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.