343
130 shares, 343 points

According to Commerzbank, gold prices will rise with higher inflation expectations. Commerzbank commodity analyst Daniel Briesemann stated in his latest daily commodity report that gold is buoyed by rising inflation expectations. Cryptocoin. com we now give the details.

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Commerzbank commodity analyst Daniel Briesemann said: “Market-based inflation expectations in the US temporarily reached almost 2.7%, a nine-year high, on Friday. For the first time in seven years. “Markets, in other words, are paying for increasingly higher inflation, and many market participants openly believe that the current level of high inflation is no longer merely temporary.”

Looking ahead, the analyst says: “Gold should take advantage of this in its role as a store of value. Gold also benefited from breaking technically significant 100- and 200-day movingollary averages on Friday, which likely triggered technical follow-ups. According to CFTC statistics, ETF investors still don’t seem to trust gold, and speculative financial investors are similarly not investing significantly in recent gold prices. ”

Regarding some other precious metals, Briesemann says: “This also explains why silver outperformed gold significantly over the period under review, reducing the gold/silver ratio. Speculative financial investors have also become more optimistic about platinum. The platinum price rose late in the day but did not gain a foothold against gold. On the contrary, the price gap between the two precious metals widened again. ”


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