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Deutsche Bank Forecasts Gold Prices to Surpass USD6,000 This Yr
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Deutsche Bank analysts predicted that gold prices may surpass USD6,000 per ounce this year, in wake of valuation pressures, international balance of payments (BOP) trends, and changes in monetary policy cycles, which drove the continuous depreciation of the USD. Since 2022, central banks' gold buying spree has not reversed, and after five years of net outflows, exchange-traded funds (ETFs) turned positive again last year, the analyst noted. Although global jewelry consumption has notably slumped compared to 2021 levels, the gold supply only reaches about half of the recent net demand growth. AASTOCKS Financial News Website: www.aastocks.com |
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