Commerzbank: gold prices to rise on slowing inflation
Gold climbed to $1,880 early in the week, settling at an eight-month high. U.S. inflation data for December will be closely monitored on Thursday. Economists at Commerzbank say that the official data will further support the metal.
In their views, gold prices will edge higher on U.S. inflation data. Slowing inflation is likely to have continued in December after peaking in the summer.
According to the market estimates, inflation data will record a further fall to 6.5% from 7.1%. Economists at Commerzbank envisage a fall to 6.4%. However, investors' expectations regarding the Fed's monetary policy this year and the Fed's remarks are not in line even now.
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