Deutsche Bank Cuts Gold Price Forecasts by Up to 22% on June 23

According to Jin10, Deutsche Bank cut gold price forecasts by up to 22% on June 23, with Q3 target at $4,300 per ounce and Q4 target at $4,800 per ounce, down 21% and 17% respectively from prior predictions. Analyst Michael Hsueh cited fading investor confidence in the Federal Reserve's monetary policy outlook and weakening investment demand for precious metals as key drivers. Gold currently trades around $4,110 per ounce. The move mirrors Goldman Sachs' action last week, which lowered its year-end gold target by $500 to $4,900 per ounce.
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