Market Nuggets
Gold is set for the 'most pronounced quarterly increase' in more than 4 years - Commerzbank
(Kitco News) Gold is trading around the $1,770-80 level on Tuesday and the fact that it is showing resistance at this level is a sign of “relative strength,” says Commerzbank analyst Carsten Fritsch. The yellow metal is looking to gain more than 12% in Q2, marking one of the biggest quarterly price increase in four years, Fritsch notes. “[Gold is] set to see its most pronounced quarterly increase since the first quarter of 2016. That said, its rise by a good 16% four years ago came on the heels of a losing streak that lasted six quarters; it also started from a very low level,” the analyst adds. The conditions of this quarterly price gain are much different than the one four years ago as now marks gold’s seventh price gain in a row.
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