Gold is historically problematic in periods of rising interest rates and had a rather mixed 2021. Strategists at Deutsche Bank expect the yellow metal to continue struggling throughout the next year and forecast XAU/USD at $1,750 by end-2022.
“It was notable how higher inflation did not translate into higher gold prices, with gold perhaps no longer the obvious safe-haven for some investors.”
“Despite still high inflation, gold seems unlikely to have a good 2022: we forecast a price of $1,750/oz at end-December 2022.”
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