Commerzbank: gold will continue to rise with ETF investors’ increasing interest in the metal

Today, on January 31, the World Gold Council (WGC) will release data on demand and supply for the fourth quarter of 2022 as well as the whole year. Commerzbank's economists believe that ETF investors’ interest in the precious metal will continue to set the direction of prices.

Physical demand for gold in Asia is unlikely to play a significant role, as China’s buying activity is balanced by rather muted interest in India. The latter is the world's second-largest gold consumer after China.

In this regard, the direction of prices will be majorly dictated by demand of ETF investors. If a trend reversal is confirmed, gold prices will get an additional impulse. Interest in the precious metal might also surge if there are hints to ease the course of monetary policy from central banks.

Company MarketCheese

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