Deutsche Bank hiked their forecast for gold as high as $2,600

Deutsche Bank announced revised forecasts for gold on Tuesday:

• to reach $2,400 per ounce by the end of 2024
• to reach $2,600 by the end of 2025

DB cite:

• heightened investment inflows
• escalating geopolitical tensions, particularly in the Middle East
• central banks' significant buying

Earlier this week Goldman Sachs moved their forecasts up also:

• Goldman Sachs raises its year-end gold forecast to $2,700, from $2,300 previously