Deutsche Bank Cuts Gold Forecast by Up to 22% to $4,300
DB•Deutsche Bank cut its third-quarter gold price forecast by 22% to $4,300 an ounce and lowered its Q4 target by 17% to $4,800. The bank noted that Fed rate-hike risks and ETF outflows have weakened demand, though central bank purchases remain a support pillar.
1. Forecast Reductions
Deutsche Bank cut its third-quarter gold price forecast by 22% to $4,300 an ounce and lowered its fourth-quarter target by 17% to $4,800 from prior outlooks.
2. Bearish Demand Drivers
Resilient US economic data and rising Fed rate-hike expectations have dampened investment demand, while continued outflows from gold-backed ETFs have removed a key support source.
3. Central Bank Support
Despite weaker investor interest, sustained purchases by global central banks remain the primary support for gold prices over the medium term.
