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Commerzbank: Gold prices could rise further after better-than-expected U.S. job market data

Commerzbank: Gold prices could rise further after better-than-expected U.S. job market data

2024/04/10 06:57

Gold prices fell slightly after the release of better-than-expected U.S. job market data last week, but soon recovered as investors may view it as a buy, analysts at Commerzbank wrote in a report. Chance. The divergence between gold prices and interest rate cut expectations has widened, likely driven by investor expectations for further gains in gold prices. Buying the asset to lock in gains becomes a rational decision. The report said rational bubbles are more likely in the gold market because fundamentals are harder to assess, although U.S. interest rates remain a key driver.

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