11:21 - 23.06.2026

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June 23, Fineko/abc.az. The largest German financial conglomerate, Deutsche Bank, has sharply revised its gold price forecasts downward (up to 22%). The reason was the ongoing uncertainty surrounding the US Federal Reserve's monetary policy and the weakening of investment demand for precious metals.

ABC.AZ informs that according to Bloomberg, the bank's analysts have lowered their forecast for the price of a troy ounce of gold for Q3 of this year to $4,300, and for the final quarter of the year to $4,800. Although these levels still suggest potential growth compared to the current spot price of around $4,140, the new targets reflect a more conservative outlook from regulators.

Key parameters of the financial release:

Following Goldman Sachs: The correction from Deutsche Bank followed the recent decision of the investment bank Goldman Sachs, which reduced its gold benchmark by $500 to $4,900 per ounce, citing the fact that the US Federal Reserve may completely abandon policy easing this year.

The risk of falling to $3,800 with a rate hike: Deutsche Bank analyst Michael Hsueh stressed that strong macroeconomic data from the United States continues to put strong pressure on the precious metals market. The bank's current base case scenario ($4,800 in the 4th quarter) assumes that the Fed will keep interest rates unchanged. However, if the regulator decides to raise interest rates by 3-4 cycles, gold prices could fall to $3,800 per ounce.