Gold Price Forecast: XAU/USD to regain the $1,900 mark and continue climbing beyond it – Commerzbank

Gold has dipped slightly below the $1,900 level again. But Given the very uncertain picture in Ukraine, economists at Commerzbank expect the yellow metal to recapture this mark and extend its advance beyond it.

Demand for platinum group metals set to pick up

“Given that the situation in Ukraine is deteriorating further and a military conflict cannot be ruled out, we believe the gold price is likely to quickly regain the $1,900 mark and then continue climbing beyond it.”

“Platinum market is expected to remain in supply surplus this year before switching into deficit over the next few years. Platinum is likely to gain from substitution effects to the detriment of palladium, and from demand from hydrogen-related applications.”