Deutsche Bank has cut its gold price forecasts by as much as 22%, citing fading investment demand and shifting US monetary policy expectations. The bank now sees bullion at $4,300 an ounce in the third quarter, down more than a fifth from its prior view, and $4,800 in the fourth quarter, a 17% reduction. Analyst Michael Hsueh pointed to Federal Reserve repricing and resilient US macro data as the main drivers, adding that three to four rate hikes could pull gold toward $3,800. The revision follows a similar move by Goldman Sachs, which lowered its year-end target by $500 to $4,900 an ounce, while gold has dropped nearly 12% this quarter amid fading ETF support and a China onshore discount to Comex prices.
Deutsche Bank AktiengesellschaftDeutsche Bank slashed its gold price forecasts, which is a negative analyst revision for the bank's own outlook.
Goldman Sachs Group IncGold price forecasts cut due to fading investment demand and shifting US monetary policy expectations, with potential rate hikes pulling gold lower.