Commerzbank is not giving up on metals, sees $4,800/oz gold, $80/oz silver by year-end

Rising inflation pressures tied to the ongoing war in Iran are likely to delay any breakout in gold from its current consolidation phase, according to Commerzbank’s Carsten Fritsch. The note is a cautious, inflation-and-geopolitics-driven commentary on gold rather than a major market event. It suggests near-term headwinds for gold prices, but with limited immediate market impact.

Analysis

Rising inflation pressures tied to the ongoing war in Iran are likely to delay any breakout in gold from its current consolidation phase, according to Commerzbank’s Carsten Fritsch. The note is a cautious, inflation-and-geopolitics-driven commentary on gold rather than a major market event. It suggests near-term headwinds for gold prices, but with limited immediate market impact.