Deutsche Bank: Cuts Q3 Gold Price Forecast by 20% to $4,300

Odaily Odaily reports that Deutsche Bank analyst Michael Hsueh stated the bank has lowered its Q3 gold price forecast by over 20% to $4,300 per ounce, and reduced its Q4 forecast by 17% to $4,800 per ounce.

"Currently, potential investors who typically might provide support are notably absent," he said, referring to weak demand from exchange-traded funds and a decline in purchasing appetite in some countries. (Jin Shi)