Deutsche Bank Cuts Q3 Gold Target 22% to $4,300 as Demand Dries Up
Updated
Updated · Bloomberg · Jun 23
Deutsche Bank Cuts Q3 Gold Target 22% to $4,300 as Demand Dries Up
2 articles · Updated · Bloomberg · Jun 23
Summary
$4,300 an ounce is Deutsche Bank's new third-quarter gold forecast, down more than a fifth from its previous target; it also cut its fourth-quarter view 17% to $4,800.
Investor caution over the US monetary-policy outlook and fading investment demand drove the downgrade, prompting the bank to temper an earlier bullish stance on bullion.
Prices near $4,140 still leave room for gains under the revised forecasts, but the new targets signal a markedly less optimistic view for gold in the second half.