Commerzbank reaffirms its gold forecast, looking for prices to end 2023 at $1,950 an ounce

Commerzbank reaffirms its gold forecast, looking for prices to end 2023 at $1,950 an ounce Commerzbank Fed CME

- Bullish sentiment in the gold market has picked up significantly this past week, with prices pushing to a six-week high as investors looked for safe-haven assets following the failure of two U.S. commercial banks.

The comments come as gold prices are holding their ground above $1,900 an ounce. April gold futures last traded at $1,924.90 an ounce, down 0.33% on the day. However, Nguyen noted that gold would be vulnerable to a correction if fears of a more significant banking crisis faded.

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