Gold is set for the 'most pronounced quarterly increase' in more than 4 years — Commerzbank
(Kitco News) Gold is trading around the $1,770-80 level on Tuesday and the fact that it is showing resistance at this level is a sign of “relative strength,” says Commerzbank analyst Carsten Fritsch. The yellow metal is looking to gain more than 12% in Q2, marking one of the biggest quarterly price increase in four years, Fritsch notes.
“Gold is set to see its most pronounced quarterly increase since the first quarter of 2016. The conditions of this quarterly price gain are much different than the one four years ago as now marks gold’s seventh price gain in a row.