Deutsche Bank has increased its 2026 gold forecast to an average of $4,000 an ounce. This revision is driven by ongoing central bank purchases, largely led by China, and expected U.S. Federal Reserve rate reductions. Previously predicted at $3,700, the updated forecast suggests that gold’s value may remain higher than fair-value models. Analyst Michael Hsueh anticipates further gains, with central bank gold purchases potentially reaching 900 tons next year. The forecast does not account for possible challenges to the Fed’s independence, which could make the outlook for gold even more bullish. The Fed is expected to ... (full story)