Gold Price Forecast: It is still too early to expect XAU/USD to make any real comeback – Commerzbank

Gold price has not managed to lastingly overcome the $1,800 mark this week. In the opinion of strategists at Commerzbank, it is too early to expect gold to make any real comeback.

Gold to continue battling with the $1,800 mark

“Though prices on the gold market have embarked on an upward trajectory because the massive appreciation of the US dollar has ended, at least for now, it is still too early to expect gold to make any real comeback.”

“The gold price is likely to continue battling with the $1,800 mark for the time being.”

“We are confident that the US dollar will appreciate again, especially vis-à-vis the euro, which is likely to weigh on the gold price in the medium term.”