LONDON (Commodity Online): Deutsche Bank said in a weekly commodities report that it is maintaining a bullish outlook for the precious-metals complex.
“We view interest rate and exchange rate trends as bullish the complex, with central-bank activity and tail-event protection sustaining strong demand for gold,” the bank said.
“We believe further positive growth shocks in the U.S. will encourage the ongoing outperformance of silver and palladium relative to gold.” The main risk would be another bout of U.S. dollar strength, the bank added.
Deutsche Bank looks for gold to average $1,800 in the second quarter and $1,900 in the fourth. Other second- and fourth-quarter forecasts include silver, $34 and $40; platinum, $1,500 and $1,650; palladium, $670 and $770; and rhodium, $1,500 and $1,550.
