Deutsche Bank Cuts Gold Outlook by 22%
Deutsche Bank has cut its gold price forecasts by up to 22%, targeting an increase in the ounce price to $4,300 in the third quarter and $4,800 by the end of the year. This revision comes amid declining investment demand and a tightening of US monetary policy. The change follows Goldman Sachs lowering its gold forecast to $4,900 per ounce, citing expectations that the US Federal Reserve will refrain from cutting interest rates and noting increased signals of rate hikes. Gold prices have fallen approximately 12% in the current quarter, after reaching a record high close to $5,600 in January.
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