PERSPEKTIVEN Viewpoint Commodities: Es ist nicht alles Gold, was glänzt

Wichtige Schlussfolgerungen:

Die mittelfristigen Aussichten für Gold bleiben intakt. Zentralbanken und asiatische Privatkunden bleiben Käufer, und geopolitische sowie fiskalpolitische Unsicherheiten sollten unterstützend wirken.
Die von Präsident Trump beabsichtigte Einführung eines Zolls von 50% auf US-Kupferimporte mag Kurssteigerungen begrenzen, aber die strukturelle langfristige Nachfrage wird weiterhin stützend bleiben.
Die Ölpreise werden weiterhin sensibel auf geopolitische Entwicklungen reagieren, aber eine schwache Nachfrage und ein steigendes Angebot dürften das langfristige Aufwärtspotential begrenzen.

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