Deutsche Bank AG stated that the recent price decline does not signal a lasting trend reversal, maintaining its forecast for gold to reach a target of $6,000 per ounce.
Analyst Micheal Hsueh wrote in a February 2nd report that gold's so-called thematic drivers, including central bank purchases, "remain positive, and we believe the rationale for investors to allocate to gold will remain unchanged."
Market conditions do not appear to support a sustained price reversal.
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