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Commerzbank: Gold To Hit $1,350 In 2019; Palladium To Retreat
Commerzbank looks for most precious metals to strengthen in 2019, with the exception of high-flying palladium, which the German bank says may be due for a correction lower. "Precious metals prices are likely to rise next year, chiefly on the back of a weaker U.S. dollar as the Fed rate-hike cycle comes to an end,” the bank said in an outlook report released Wednesday. Commerzbank forecasts gold will average $1,250 an ounce in the first two quarters of 2019, but then rise to $1,300 in the third quarter. "We expect the gold price to increase to $1,350 per troy ounce by the end of 2019,” the bank said. Silver was ... (full story)