Deutsche Bank Cuts Gold Forecasts by Up to 22%

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โดย Bloomberg·Read original
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Deutsche Bank reduced its gold-price forecasts by as much as 22%, citing waning investor confidence in US monetary policy and declining investment demand. The bank now sees bullion at $4,300 an ounce in the third quarter, down more than a fifth from its prior outlook, and $4,800 in the fourth quarter, a 17% cut. Both revised targets still imply gains from current levels near $4,140, though they are markedly less bullish. The move follows Goldman Sachs' decision last week to trim its year-end forecast by $500 to $4,900, as it no longer expects Federal Reserve rate cuts this year. Gold has slumped over 11% this quarter, pressured by Fed repricing and resilient US macro data, while ETF outflows and a Chinese onshore discount to Comex prices have removed typical support, leaving central bank demand as the one remaining strong pillar.

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