Rate cuts in H2 will drive gold to $5,000 and silver to $90 - Commerzbank

Rate cuts in H2 will drive gold to $5,000 and silver to $90 - Commerzbank

From kitco.com

The gold market saw a significant technical and fundamental move last week as prices held critical support at their 200-day moving average and ended a three-week losing streak, even as oil prices continued to climb. Monday’s follow-through buying momentum has added to gold’s bullish outlook, with one investment bank saying that gold’s disappointing price action through March is unsustainable. Commodity analysts at Commerzbank said that, despite the significant pullback in gold prices over the past two months, they remain bullish on the precious metal. On Friday, the German bank upgraded its precious metals ... (full story)

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