Gold remains well supported by political uncertainty – Commerzbank

Gold has reacted positively to the latest US tariffs, Commerzbank's commodity analyst Barbara Lambrecht notes.

US economic indicators can strengthen hopes of more interest rate cuts

"The price reached a new record high. In addition, the price difference between Gold on the Comex and the spot price in London has widened again, which can be explained by concerns about the US tariffs that will come into force next week as these could also affect Gold imports from Canada."

"However, this also shows that the Gold rally is not quite over yet. We consider Gold to be well supported for the time being, especially as next week's potentially disappointing US economic indicators could strengthen hopes of more interest rate cuts by the Fed."

Mar 28, 2025

EUR/USD: Next resistance at 1.0870 is unlikely to come under threat – UOB Group

Room for Euro (EUR) to rebound further vs US Dollar (USD) and test 1.0825; the next resistance at 1.0870 is unlikely to come under threat.

China exported significantly more Gold to Hong Kong in February – Commerzbank

Data published this week by the Hong Kong Statistics Authority on Gold trade with China confirmed the picture of very weak demand for Gold in China, Commerzbank's commodity analyst Carsten Fritsch notes Gold exports to China and Hong Kong come to a standstill in February "According to the data, 26.4 tons more Gold were delivered from China to Hong Kong in February than vice versa.