10.04.2025 16:21
Deutsche Bank has raised its forecasts regarding gold prices, a topic that has recently been at the forefront of economic discussions. The bank has increased its average gold price forecasts for 2025 and 2026 to $3,139 and $3,700 per ounce, respectively. Earlier, the bank had predicted an average price of $2,725 for this year and $2,900 for 2026.
Deutsche Bank stated, "Despite this week's correction, we conclude that the bull case for gold remains strong, and we are raising our year-end (Q4 2025) forecast to $3,350 per ounce."
Deutsche Bank also mentioned that central bank demand for gold has increased from 10% to 24% of the gold market since 2022, while demand for Treasury bonds has only accounted for 7% to 10% of net issuances.
A FORECAST FROM HSBC
Central banks are likely to continue buying gold this year and next year. However, HSBC noted that purchases could fall below the peak levels of 2022-24, potentially decreasing if prices rise above $3,000 per ounce and increasing if they drop below approximately $2,800. Last week, HSBC raised its gold price forecasts for 2025 and 2026 to $3,015 and $2,915 per ounce, respectively, citing geopolitical risks.