Deutsche Bank Cuts Gold Price Forecasts Amid Caution
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 23 2026
0mins
Source: Yahoo Finance
- Significant Price Revision: Deutsche Bank has cut its gold price forecast for Q3 to $4,300 per ounce, a reduction of over 22% from previous estimates, reflecting increasing investor concerns about US monetary policy that may further weaken demand for the metal.
- Pessimistic Q4 Outlook: The bank's forecast for Q4 is now set at $4,800, down 17% from earlier projections, indicating a cautious market sentiment despite potential for a rebound from current levels below $4,100.
- Market Dynamics Shift: Gold prices have dropped nearly 12% this quarter, primarily driven by rising energy prices due to the Middle East conflict and expectations of tighter monetary policy from the Fed, highlighting a diminishing support for gold in the market.
- Impact of ETF Selling: The significant selling pressure from ETFs has weakened gold's usual support, with Deutsche Bank analysts noting that while central bank demand remains a bright spot, China's discount to Comex prices suggests that imports may not bolster the market, necessitating close monitoring of Fed policy changes.
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Analyst Views on DB
Wall Street analysts forecast DB stock price to rise
13 Analyst Rating
7 Buy
5 Hold
1 Sell
Moderate Buy
Current: 37.040
Low
36.55
Averages
43.20
High
47.63
Current: 37.040
Low
36.55
Averages
43.20
High
47.63
About DB
Deutsche Bank Aktiengesellschaft is a bank and holding company for its subsidiaries. The Company offers a range of services such as investment, financial and related products and services to private individuals, corporate entities, and institutional clients. It operates through four business divisions: Corporate Bank, Investment Bank, Private Bank and Asset Management. The Corporate Bank division serves corporate clients and financial institutions, offering cash management, trade finance, lending, foreign exchange, trust and agency services, correspondent banking, and securities services. The Investment Bank division includes Fixed Income & Currencies (FIC) Sales & Trading, Origination & Advisory, and Deutsche Bank Research. The Private Bank division focuses on personal and private clients, wealthy individuals, entrepreneurs and families. The Asset Management division operates under the brand DWS, and it serves a diverse client base of retail and institutional investors worldwide.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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