Deutsche Bank Flags $3,800 Gold Risk if Fed Delivers Three to Four Rate Hikes

Deutsche Bank warned gold could fall to about $3,800 an ounce if the Federal Reserve delivers three to four rate hikes, deepening the metal’s slide. In a note published on Tuesday, according to BeInCrypto, the bank cut its forecasts to $4,300 per ounce in the third quarter and $4,800 in the fourth quarter, with analyst Michael Hsueh saying the Q4 view assumes rates stay unchanged. Deutsche Bank follows Goldman Sachs, which cut its year-end target to $4,900 from $5,400. Spot gold traded near $4,088 on Wednesday.