Make Kitco Your Homepage

Gold market momentum is not abating - Commerzbank

Kitco News

Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!

(Kitco News) - Improving investor sentiment that is pushing equity markets higher Monday is not enough to stop the momentum in the gold market, according to analysts at Commerzbank.

The analysts reiterated their stance that it’s only a matter of time before gold prices see sustainable push above $1,800 an ounce. They noted that investment demand continues to dominate the marketplace.

The German bank said  that gold-backed exchanged traded products have seen inflows of 19 tons since the start of the month.

“It only ever gets interrupted briefly before resuming again,” they said. “In our opinion it will probably only be a question of time before gold rises above the $1,800 mark. The front-month gold futures contract had already traded briefly above it last week.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.