Economists at Commerzbank expect Gold to remain at a high level.

New prospects for Gold

“New record highs are in reach on the Gold market. All the same, we see only limited potential for any (further) price rises for now. This is because the market is likely over the next few months to fluctuate back and forth (driven by the data) while it attempts to guess whether the Fed’s next interest rate adjustment will be up or down.”

“Investors with more of a long-term horizon have also become more cautious again of late: following significant inflows into Gold ETFs in the second half of March, buying interest has dwindled again.”