Commodities
Commerzbank Downgrades Gold Price Forecast Amid Ongoing Market Uncertainty
Commerzbank analysts led by Thu Lan Nguyen downgraded their gold price forecast to $4,500 an ounce for the end of the year, a decrease from their previous estimate of $4,800.
The bank also lowered its year-end silver price target to $67 an ounce from $80 an ounce.
Nguyen cited persistent inflation pressures and market expectations as factors contributing to the downgrades.
However, she noted that gold still has a path to $5,000 an ounce in 2027 if inflation pressures moderate.