Commerzbank Flags Investment Surge as Gold Demand Mix Shifts

Commerzbank reports that investor flows via ETFs and bar/coin purchases are absorbing a growing share of gold supply, driven by geopolitical risks, expected monetary easing and equity volatility. The shift follows strategist Larry McDonald’s 4 June warning of a high-probability rotation out of concentrated Nasdaq-100 holdings into hard assets. McDonald flagged gold near $4,100/oz as attractive with targets of $6,500–$7,000/oz by 2027-28, while current quotes hover around $4,500/oz. The combined signals indicate gold is behaving more like a macro-sensitive financial asset, raising both volatility and potential support floors.