Deutsche Bank lowers its gold price forecast.

Deutsche Bank significantly lowered its gold price forecast, with the largest decrease of 22%. Currently, investors are becoming increasingly cautious about the outlook for US monetary policy, leading to a continuous shrinking of investment demand for gold. Analyst Michael Hsueh from the bank stated in the research report that the third-quarter gold price expectation has been lowered to $4300 per ounce, a decrease of more than 20% compared to previous forecasts; the fourth-quarter target price has been lowered to $4800 per ounce, a decrease of 17%. The revised two price targets are still higher than the current gold price of around $4140 per ounce, but the bullish momentum has significantly weakened compared to before. Deutsche Bank's pessimistic expectations are consistent with Goldman Sachs' adjustment last week. Goldman Sachs lowered its year-end gold price forecast by $500 to $4900 per ounce, with the core logic being the bank's judgment that the Federal Reserve will not cut interest rates this year.