Gold has experienced an explosive phase since August 2024, with its price doubling despite declining from its all-time high of $5,589.38 per ounce reached on January 29. Spot gold is currently trading around $4,031 per ounce while futures hover around $4,085. Deutsche Bank forecasts a fair value of approximately $4,700 per ounce by year-end and $4,600 in the fourth quarter, taking a more bullish stance than its previous forecast on June 23.
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