Deutsche Bank Cuts Gold Forecasts up to 22% as Bulls Temper View
Financial Post - Banking • 2026-06-23
AI Summary
Deutsche Bank has significantly lowered its gold price forecasts, citing investor caution regarding US monetary policy and declining investment demand. The bank now anticipates gold at $4,300 per ounce in Q3 and $4,800 in Q4, still implying gains from current levels but reflecting a less bullish outlook. This adjustment follows a similar move by Goldman Sachs and is attributed to resilient US economic data and the Federal Reserve's stance on interest rates.
- •Gold price forecasts reduced by up to 22%.
- •US monetary policy and investment demand cited.
- •Central bank demand remains a strong support.