Gold Price Analysis: XAUUSD is not in much demand in the current market environment– Commerzbank

Gold is trending sideways. Economists at Commerzbank note that the yellow metal is not attracting the attention of investors with risk flows dominating the financial markets.

Somewhat weaker US dollar is lending virtually no support

“In the current market environment, which is characterised once again by higher risk appetite among market participants, gold is not in much demand.”

“The somewhat weaker US dollar is lending virtually no support this morning.”

“The past two days saw outflows from the gold ETFs again, meaning that gold is lacking any impetus from financial investors.”