Gold’s October Correction Seen as Overdone by Commerzbank

Gold prices remain above $3,900 an ounce after posting their worst October since 2008 and weakest monthly showing since the start of the year. Commerzbank analyst Carsten Fritsch views the sell-off as excessive, stressing that the fundamental case for higher prices stays intact even after the drop to a more than one-year low of $3,870.