© Reuters A major German bank issues its forecast for gold prices
Arabictrader.com – In conjunction with continuing to benefit from the crisis and tensions in the Middle East, economists at Commerzbank analyzed their expectations for the yellow metal during the coming period, and the bank’s experts saw that news coming from the Middle East is likely to continue to determine the direction of gold during the coming period, especially Previously dominant factors, such as changes in US bond yields, have become less influential.
The German Bank economists continued that the inverse correlation between the gold metal has become loose recently, given that both gold and the US dollar are considered safe havens at the present time.
On the sidelines of the sharp and ongoing escalations in the Middle East between the Palestinian resistance movement (Hamas) and Israel, economists at the famous Swiss bank UBS explain the performance of gold and crude oil during the past few years. UBS analysts noted that gold is likely to benefit from the risk of the conflict spreading into a regional conflict, which would increase gold’s appetite for safe haven status.
It should be noted that gold prices had risen as one of the safe havens that investors resort to during geopolitical tensions, and with the continuation of the conflict in the Middle East, prices continued to rise by an increase of approximately 8.7% during the past two weeks, reaching $1,981 at the close of last weekend’s session.
2023-10-25 05:27:00
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