Gold is still in its ‘explosive phase,’ says Deutsche Bank, as it sticks to year-end target - MarketWatch
Gold is still in its ‘explosive phase,’ says Deutsche Bank, as it sticks to year-end target - MarketWatch
Source: MarketWatch
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DW NOTE
Deutsche Bank is calling gold's 22.8% drawdown from $5,318 an "explosive phase" and holding a year-end target presumably well above $4,107. That requires either restored geopolitical panic — unlikely given the moderation in energy risk premiums — or a resumption of real rate suppression the Fed hasn't signaled. The 10-year at 4.68% and climbing isn't an explosive backdrop for non-yielding assets.