Price of Gold could also rise more significantly – Commerzbank
|After briefly exceeding $3,400 per troy ounce, the Gold price stabilised just below this level, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
Gold to rise if conflict in the Middle East escalates further
"In principle, uncertainty surrounding the conflict in the Middle East should support the precious metal. However, given the sharp rise in prices since the beginning of the year, investors appear increasingly reluctant to make large purchases."
"Against this backdrop, the Gold deliveries between Hong Kong and China in May, due to be published next week, could be of interest as they indicated strong demand from China in April. However, for Gold to rise again towards its record high, the conflict in the Middle East would probably have to escalate further, for example through US involvement in attacks on Iran."
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.