Deutsche Bank cut its gold forecasts by as much as 22%, citing tighter Fed pricing and fading investment demand. Analyst Michael Hsueh now sees Q3 gold at $4,300/oz (down >20% from prior), Q4 at $4,800/oz (down 17%); current spot is about $4,110/oz. The move follows Goldman Sachs’ reduction of its year‑end target by $500 to $4,900/oz. Deutsche Bank says resilient US macro data and Fed repricing are the main downward drivers; its Q4 target assumes the Fed holds rates, but three to four rate hikes

Deutsche Bank cut its gold forecasts by as much as 22%, citing tighter Fed pricing and fading investment demand. Analyst Michael Hsueh now sees Q3 gold at $4,300/oz (down >20% from prior), Q4 at $4,800/oz (down 17%); current spot is about $4,110/oz. The move follows Goldman Sachs’ reduction of its year‑end target by $500 to $4,900/oz. Deutsche Bank says resilient US macro data and Fed repricing are the main downward drivers; its Q4 target assumes the Fed holds rates, but three to four rate hikes could push gold toward roughly $3,800/oz. Continued ETF outflows point to waning investment support; central bank buying remains the lone firm pillar and is expected to persist for some time.