Deutsche Bank Projects $8,000 Gold as EM Banks Target 40% Reserves

Deutsche Bank's latest scenario sees gold hitting $8,000/oz within five years if emerging market central banks lift gold allocations from 16% to 40% amid de-dollarization, with over 225 million ounces added since 2008. The forecast builds on earlier DB simulations of 80% upside from ~$4,700 levels and Goldman Sachs' $5,400 year-end target tied to 50 basis points of Fed cuts and central bank demand. Gold futures settled at $4,614.70, down 12% in two months yet up 7% YTD and 39.5% over 12 months, balancing short-term risks with long-term bullish momentum.