Deutsche Bank has increased its gold price forecast to $2,600 by the end of 2024. This follows a similar bullish adjustment by Goldman Sachs, who now expects gold to reach $2,700 per ounce. Both banks attribute their optimistic forecasts to substantial investment inflows and rising geopolitical tensions, particularly citing the Middle East conflict as reinforcing gold's appeal as a safe haven. The recent failed missile attack by Iran on Israel further boosts this sentiment. Deutsche Bank also notes that while some early investors might take profits, new investors are likely to enter the market, sustaining demand and supporting higher prices. This sentiment has contributed to a 20% increase in gold prices over the past two months, with expectations for continued upward movement.
Posted: 2024-04-16 14:27:27.000000