Deutsche Bank cuts gold forecasts by up to 22% on weaker demand

Deutsche Bank has cut its gold price forecasts by up to 22%, citing weaker investment demand and growing uncertainty over the US monetary policy outlook. The bank now expects gold to average $4,300 an ounce in the third quarter and $4,800 in the fourth quarter. Despite the downgrade, both targets remain above current prices of about $4,140 an ounce.