Gold price is 'a long way from ending its upswing': Commerzbank
(Kitco News) Gold is unlikely to end its bull market any time soon, according to Commerzbank. “In our opinion, the gold price is a long way from ending its upswing. The problems we currently face are simply too manifold: be it the rapidly rising national debt levels, the unchecked printing of money by central banks, the persistently extremely low interest rates, and the numerous political risks,” Commerzbank commodity analyst Carsten Fritsch writes. The biggest risk in Q4 is the U.S. election, Fritsch notes. Also, there is a chance of Brexit without a trade deal and rising geopolitical tensions. On top of that, ETF investors are continuing to increase their gold holdings. “Inflows totalled 54 tons in September and 240 tons in the third quarter as a whole. This was the tenth monthly inflow and the eighth quarterly inflow in a row,” Fritsch adds.